| Registro completo |
| Provedor de dados: |
AgEcon
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| País: |
United States
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| Título: |
On Production Function Estimation with Selectivity and Risk Considerations
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| Autores: |
Koundouri, Phoebe
Nauges, Celine
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| Data: |
2006-10-06
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| Ano: |
2005
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| Palavras-chave: |
Crop choice
Production risk
Sample selection
Production Economics
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| Resumo: |
In the estimation of production functions, ignoring risk considerations can cause inefficient estimates, while biased parameter estimates arise in the presence of sample selection. In the presence of uncertainty and selection bias, the latter introduced by the endogeneity of qualitative characteristics of inputs in crop choice, we show that correcting for risk considerations (a la Just and Pope, 1978, 1979) but not selection bias, can produce incorrect inferences in terms of risk behavior. The arguments raised in this study have estimation and policy implications for stochastic production analysis applied to all goods whose qualitative characteristics can affect sample selection.
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| Tipo: |
Journal Article
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| Idioma: |
Inglês
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| Identificador: |
23896
http://purl.umn.edu/30977
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| Editor: |
AgEcon Search
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| Relação: |
Journal of Agricultural and Resource Economics>Volume 30, Number 03, December 2005
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| Formato: |
12
application/pdf
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