Course Outline and Reading Assignments
AEM 608, Production Economics
Fall 2002
I. Modeling Technology with a Production Function
(Lecture Notes #1, #2)
Debertin, David L. Agricultural Production Economics, Second edition, 1992 (manuscript), Chapters 2 and 5.
Beattie, Bruce R. and C. Robert Taylor. The Economics of Production, Wiley, 1985, Chapter 2 (2.1 through 2.2f, 2.3).
Arce-Dias, Eduardo, Allen M. Featherstone, Jeffrey R. Williams, and D.L. Tanaka. Substitutability of Fertilizer and Rainfall for Erosion in Spring Wheat Production. Journal of Production Agriculture 6(1993) 72-76.
II. Optimization, Demand and Supply, Indirect Functions and Duality
(Lecture Notes #3, #4, #5, #6)
Debertin, Chapter 3, Sections 13.1-13.4, Chapter 6, Section 13.5, Chapters 7 and 8, Sections 13.6 and 13.7, and Chapter 4.
Beattie and Taylor, Chapters 3 (3.1 through 3.2i) and 4 (4.1 through 4.1e, 4.3, 4.4, 4.4a, 4.5).
Silberberg, Eugene and Wing Suen. The Structure of Economics, A Mathematical Analysis, McGraw Hill, 2001, Sections 4.4, 8.1-8.7, 8.10.
Tauer, Loren W. and Harry M. Kaiser. Negative Milk Supply Response Under Constrained Profit Maximizing Behavior. Northeastern Journal of Agricultural and Resource Economics 17(1988):111-117.
III. Production of Two or More Products
(Lecture Notes #7)
Debertin, Chapters 15, 16, 17, and 18.
IV. Duality Reviewed
(Lecture Notes #8, #9)
Debertin, Chapter 24 (pp. 403-416).
Beattie and Taylor, Chapter 6 (6.1, 6.2, 6.3d, 6.4 through 6.5b).
Silberberg and Suen, Sections 4.5, 7.2, 7.3, 8.8, 8.9, and Chapter 9.
Varian, Hal R. Microeconomic Analysis, W.W. Norton, 1984, Section 1.15 (Section 1.10 first edition, 1978).
V. Estimation and Use of Empirical Functions
(Lecture Notes #10, #11, #12)
Debertin, Chapters 10, 11, and 12.
Beattie and Taylor, 2.5, 3.5, 6.6.
Dillon, John L. The Analysis of Response in Crop and Livestock Production, Second edition, Pergamon Press, 1977, Chapter 5.
Varian, Section 4.1, 4.2, 4.3, 4.4.
Vanotti, M. B. and L. G. Bundy. An Alternative Rationale for Corn Nitrogen Fertilizer Recommendations. Journal of Production Agriculture 7(1994):243-249.
Tauer, Loren W. Determining the Optimal Amount of Nitrogen to Apply to Corn Using the Box-Cox Functional Form. Working Paper 2000-06, Department of Agricultural, Resource, and Managerial Economics, Cornell University, April 2000.
Ozsabuncuoglu, Ismail H. Production functions for wheat: a case study of Southwestern Anatolian Project (SAP) Region. Agricultural Economics 18(1998):75-87.
Dalton, Timothy J., William A. Masters and Kenneth A. Foster. Production Costs and Input Substitution in Zimbabwe's Smallholder Agriculture. Agricultural Economics 17(1997): 201-209.
Koo, Won W., Weining Mao and Takeshi Sakurai. Wheat Demand in Japanese Flour Milling Industry: A Production Theory Approach. Agricultural Economics 24(2001):167-178.
Fulginiti, Lilyan E. and Richard K. Perrin. Argentine Agricultural Policy in a Multi-Input, Mult-Output Framework. American Journal of Agricultural Economics 72(1990):279-288.
VI. Linear Programming in Production Economics
(Lecture Notes #13)
Doll, John and Frank Orazem. Production Economics: Theory with Applications, Wiley, 1984, Chapter 9 (pp. 319-343).
VII. Production Over Time
(Lecture Notes #14)
Dillon, Section 3.6.
VIII. Risk and Uncertainty in Production
(Lecture Notes #15, #16)
Anderson, Jack R., John L. Dillon, and Brian Hardaker. Agricultural Decision Analysis, The Iowa State University Press, 1977, Sections 4.4, 4.5., 7.1, 7.2, 7.3, and 9.1.
Dillon, Chapter 4.
Silberberg and Suen, Chapter 13.
Zacharias, T.P. and A.H. Grube. An Economic Evaluation of Weed Control Methods Used in Combination with Crop Rotation: A Stochastic Dominance Approach. North Central Journal of Agricultural Economics 6(1984):113-120.
Lambert, David K. Risk Considerations in the Reduction of Nitrogen Fertilizer Use in Agricultural Production. Western Journal of Agricultural Economics 15(1990):234-244.
Turvey, Calum G. Weather Derivatives for Specific Event Risks in Agriculture. Review of Agricultural Economics 23(2001)333-351.
IX. Investment Analysis
Tauer, Loren W. Investment Analysis in Agriculture. Paper presented at the NATO Advanced Research Workshop, Economics of the Dairy Industry in Central and Eastern Europe, Polanica Zdraj, Poland, June 5-7, 2000. Staff Paper 2000-03, ARME, Cornell University, April 2000.
Trigeoris, Lenos. Real Options: Managerial Flexibility and Strategy in Resource Allocation. The MIT Press,1999, Chapters 1 and 2, Sections 3.1, 3.2, 3.6, 5.1.
Purvis, Amy, William G. Boggess, Charles B. Moss, and John Holt. Technology Adoption Decisions Under Irreversibility and Uncertainty: An Ex Ante Approach. AJAE 77(1995):541-551.
X. Technical, Allocative and Economic Efficiency
(Lecture Notes #17)
Coelli, Tim, D.S. Prasada Rao and George E. Battese. An Introduction to Efficiency and Productivity Analysis. Kluwer, 1998, Chapters 6 and 8.
Tauer, L.W. Efficiency and Competitiveness of the Small New York Dairy Farm. Journal of Dairy Science 84(2001):2573-2576.
Weersink, Alfons, Calum G. Turvey and Abdulahi Godah. Decomposition Measures of Technical Efficiency for Ontario Dairy Farms. Canadian Journal of Agricultural Economics 38(1990):439-456.
Adesina, Akinwumi A. and Kouakou K. Djato. Relative Efficiency of Women as Farmers: Profit Function Analysis in Cote d'Ivoire. Agricultural Economics 16(1997):47-53.
Gallacher, Marcos, Stephan J. Goetz and David L. Debertin. Managerial Form, Ownership and Efficiency: A Case-Study of Argentine Agriculture. Agricultural Economics 11(1994):289-299.
XI. Productivity and Technological Change
(Lecture Notes #18, #19)
Coelli, Rao and Battese, Chapter 4.
Tauer, Loren W. Age and Farmer Productivity. Review of Agricultural Economics 17(1995):63-69.
Tauer, Loren W. and Nazibrola Lordkipanidze. Farmer Efficiency and Technology Use with Age. Agricultural and Resource Economics Review 29(2000):24-31.
Felipe, Jesus. Aggregate Production Functions and the Measurement of Infrastructure Productivity: A Reassessment. Eastern Economic Journal 27(2001):323-344.
XII. Demand and Supply Analysis, Market Equilibrium
(Lecture Notes #20)
Kreps, David M. A Course in Microeconomic Theory. Princeton University Press, 1990, Chapter 8.
Tauer, Loren W. The Value of Segmenting the Milk Market into bST-Produced and Non-bST-Produced Milk. Agribusiness 10(1994):3-12.
Slade, Margaret. Uniform Compliance Costs for Mineral Commodities: Who Gains and Who Loses? Land Economics 72(1996):17-32.
Mills, David E. and Laurence Schumann. Industry Structure with Fluctuating Demand. AER 75(1985):758-767.
XIII. Transaction Costs, Contracts, and Rationality
(Lecture Notes #21)
Kreps, David M. A Course in Microeconomic Theory. Princeton University Press, 1990, Chapters 19 and 20.
Demsetz, Harold. The Theory of the Firm Revisited. Chapter 10 in Oliver Williamson and Sidney Winter, eds., The Nature of the Firm: Origins, Evaluation, and Development. New York: Oxford University Press (1991).
Silberberg and Suen, Chapter 15.
Goodhue, Rachel E. Broiler Production Contracts as a Multi-Agent Problem: Common Risk, Incentives and Heterogeneity. AJAE 82(2000):606-622
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