Recent Duality Contributions in Production Economics

Abstract

This article is a limited assessment of the agricultural production economics literature since 1982 that resulted from dual modeling approaches. Contributions have removed several perceived obstacles to dual modeling, such as testing curvature, identifying the technology when prices are collinear, and examining dynamics of production. Some contributions have also removed obstacles to primal modeling. Dual methods have been used in risk applications only recently and still appear less convenient than primal methods. Convenience may become the primary criterion for selecting primal or dual methods.

Keywords

• collinear prices
• duality
• dynamics
• estimation
• production
• risk
• testing