A SYNTHETIC MODEL OF AGRICULTURAL SUPPLY

Over the past twenty-five years there have been important theoretical developments in the supply literature. Each has examined the likely impact on supply of introducing doses of realism into the standard neoclassical model. These have been administered for the most part independently, with the consequence that, though each has illuminated a single aspect of supply, no overall perspective has emerged. This essay seeks to provide a coherent and comprehensive framework of analysis and develops an estimatable model of supply within this framework.