This paper tests the farm level profit maximization hypothesis using a nonparametric production analysis approach allowing for measurement error in the input and output variables. All farms violated Varian’s deterministic Weak Axiom of Profit Maximization (WAPM). The magnitude of minimum...

This paper examines productivity of a sample of grain marketing and farm supply cooperatives from 1990 to 1998. The cooperative industry’s productivity or growth was mainly due to improvement in technology rather than improvement in pure efficiency or scale. The cooperative...

The objective of this paper is to examine credit migration of individual Kansas farms from 1980-2003. Individual farm data collected from the Kansas Farm Management Data Bank are employed. From 1980 to 2003 these farms had an average credit rating equivalent to a Standard and Poor's B...

The terms of grazing lease contracts potentially influence the tenants incentive to preserve the vegetation resource. Annual stocking rate decisions dictate the degree of overgrazing, which can be cumulative over long periods of time. The objective of this study is to identify the impact the...

This article establishes the cost-efficiency frontier and its variation over time for a sample of 610 farms in Kansas for ten consecutive years, from 1995 to 2004. The primary objective consists of examining how financially constrained firms affect cost efficiency and its components, allocative,...