Data/hora: 16/06/2024 04:51:48

Provedor de dados: 	31	
País: 	United States	
Título: 	Feasible Estimation of Firm-Specific Allocative Inefficiency through Bayesian Numerical Methods	
Autores: 	Atkinson,   Scott E.; Dorfman,   Jeffrey H.	
Data: 	2005-05-09	
Ano: 	2005	
Palavras-chave: 	Research Methods/ Statistical Methods.	
Resumo: 	The estimation of allocative and technical inefficiency has grown to an enormous body of literature, both theoretical and empirical. Ideally, one would estimate time-varying firm and input-specific parameters describing allocative inefficiency in order to minimize aggregation bias. However, this has never been previously accomplished. Typically, only industry-wide allocative efficiency parameters have been empirically identified. Our proposed solution is to employ Gibbs sampling to approximate posterior distributions from a Bayesian limited information model, embedding GMM moment conditions imposed via an instrumental variables step to obtain plant-specific parameters estimates that vary flexibly over time. For a panel of Chilean hydroelectric power plants, posterior distributions of these estimates display substantial differences in location and precision. By contrast, the standard GMM approach which produces industry-wide, time-varying allocative inefficiency parameters, not only fails to reveal the inter-plant differences by construction, but does not even produce posterior medians that approximate a weighted average of the plant-specific posterior medians.	
Tipo: 	Conference Paper or Presentation	
Idioma: 	Inglês	
Identificador: 	16094

http://purl.umn.edu/19402	
Editor: 	AgEcon Search	
Relação: 	American Agricultural Economics Association&gt;2005 Annual meeting, July 24-27, Providence, RI

Selected Paper 136454	
Formato: 	38

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