Agricultural Production Functions Without Prices

I admit this story is insider stuff for those with experience of academic seminars for economists. But it made me laugh, so I pass it along. It’s how Jesse Tack, Jisang Yu, and Roderick M. Rejesus introduce their review essay “Recent approaches in agricultural production economics: Where the heck are the prices?” (Food Policy, May 2026). A scene is unfolding. It’s 2005 and an excited young PhD candidate applied for a job and has been invited to give a job market seminar at a prominent department. They are nervous, but well prepared. Nice new outfit, a couple practice presentations under their belt. Their voice cracks just a smidge as they introduce themselves to the audience and share some personal background on why they are so excited about this job opportunity. By the time they get to the title of the paper they have recovered and are settling in. As the final word of the title rolls off their tongue, they are about to click to the introduction slide when a hand shoots up in the…