A farm household consumption model based on the life‐cycle permanent income hypothesis (LPIH) has been specified and the Euler equations derived in this analysis. Estimation of the of the Euler equations using farm household consumption data provided estimates for the intertemporal elasticity...

This research examines the empirical properties of duality theory. A comparison of the Hessian matrices calculated from the normalized unrestricted and restricted profit, and production functions indicate that duality is highly sensitive to measurement error and relative price variability....

This paper presents the results of a survey conducted on public perception of genetic engineering in Jamaica. Our findings suggest that the safety of genetically modified foods is a major concern for consumers and that the perception of the prospects for genetic engineering to improve the...

We used a non-competitive market framework to assess the perceived impact of ISO 9000 standards on the operational efficiency of registered U.S. agribusiness sites. Kendall Coefficient of Concordance, W, was used to rank selected reasons for seeking registration to ISO 9000 standards. The...

This study investigates the impact of risk preferences on economic efficiency scores. Risk averse individuals may be less likely to adopt new technologies and have lower production levels than individuals with other risk preferences. Nonparametric techniques are used to estimate cost and revenue...