The curvature properties of the indirect utility function imply a set of refutable implications in the form of comparative static results and symmetric relations for the competitive firm operating under uncertainty. These hypotheses, first derived and empirically tested under output price...

The curvature properties of the indirect utility function imply a set of refutable implications in the form of comparative static results and symmetric relations for the competitive firm operating under uncertainty. These hypotheses, first derived and empirically tested under output price...

The hypothesis of induced innovation is tested for U.S. agriculture using a high-quality state-level panel data set and three disparate testing techniques-time series, direct econometric, and nonparametric. We find little support for the hypothesis. That conclusion is robust across testing...

The hypothesis of induced innovation is tested for U.S. agriculture using a high-quality state-level panel data set and three disparate testing techniques – time series, direct econometric, and nonparametric. We find little support for the hypothesis. That conclusion is robust across testing...

This paper uses recently developed panel cointegration techniques and error correction modeling to test the hypothesis of induced innovation in a state-level panel of U.S. agricultural production. These methods provide greatly improved power compared to conventional approaches. A 5-step testing...