Data/hora: 12/06/2024 13:33:53

Provedor de dados: | Research in Agricultural & Applied Economics (AgEcon Searh)
País: | United States
Título: | Estimation with Price and Output Uncertainty
Autores: | Alghalith,   Moawia.
Data: | 2008-06-12
Ano: | 2005
Palavras-chave: | Estimating equations; Output uncertainty; Price uncertainty; Utility; D8; D2.
Resumo: | This paper extends the existing estimation methods to allow estimation under simultaneous price and output uncertainty. In contrast with the previous literature, our approach is applicable to the direct and indirect utility functions and does not require specification and estimation of the production function. We derive estimating equations for the two most common forms of output risk (additive and multiplicative risks) and empirically determine which form is appropriate. Moreover, our estimation method can be utilized by future empirical studies in several ways. First, our method can be extended to include multiple sources of uncertainty. Second, it is applicable to other specifications of output uncertainty. Third, it can be used to conduct hypothesis tests regarding the functional forms and distributions. Furthermore, it enables the future empirical researcher to empirically verify/ refute the theoretical comparative statics results.
Tipo: | Journal Article
Idioma: | Inglês

Identificador:

Print ISSN 1514-0326

Online ISSN 1667-6726

http://purl.umn.edu/37108

Relação: | Journal of Applied Economics&gt;Volume 8, Number 2, November 2005
Formato: | 11