This study focuses on the analysis of the production behavior and risk preferences in the presence of output price uncertainty. Following a theoretical model based on the assumption of maximization of expected utility of profits, the approach used in this study infers information about risk preferences from the production characteristics of the farm. In addition, the nonparametric method of est...

In 2010, concerns regarding Japan’s excessive dependence on imports for food and energy caused the Japanese government to introduce subsidies to stimulate biofuel crop production. In this paper, we study the viability of price subsidies and certain other policies with respect to increasing the production of biofuel crops. First, we estimate the elasticity of the supply of Japanese agriculture w...

Recently, development and research of nutraceuticals based on marine collagen peptides (MCPs) have been growing due to their high homology with human collagens, safety, bioavailability through gut, and numerous bioactivities. The major concern regarding safety of MCPs intake relates to increased risk of oxidative stress connected with collagen synthesis (likewise in fibrosis) and to ROS product...

The issue of production function estimation has received recent attention, particularly in agricultural economics with the advent of precision farming. Yet, the evidence to date is far from unanimous on the proper form of the production function. This paper reexamines the use of the primal production function framework using nonparametric regression techniques. Speci cally, the paper demonstrat...

Abstract The Kaldor-Verdoorn law refers to a positive but less than one-for-one causal relationship between the growth rates of output and labour productivity. While empirical research has found that coefficient lies 0 1, interpretation this finding remains unclear. In paper, we present model derive law. Our results show is jointly determined by elasticity factor substitution, supply elasticity...

This paper follows Jones (2005) in his approach to deriving the global production function from microfoundations. His framework is generalized by allowing for dependence between the Pareto distributions of laborand capital-augmenting developments. Using the Clayton copula family to capture this dependence, we derive a “Clayton-Pareto” class of production functions that nests both the Cobb-Dougl...

This paper follows Jones (2005) in his approach to deriving the global production function from microfoundations. His framework is generalized by allowing for dependence between the Pareto distributions of laborand capital-augmenting developments. Using the Clayton copula family to capture this dependence, we derive a “Clayton-Pareto” class of production functions that nests both the Cobb-Dougl...