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Provedor de dados:  AgEcon
País:  United States
Título:  Estimating State-Contingent Production Functions
Autores:  Rasmussen, Svend
Karantininis, Kostas
Data:  2005-09-21
Ano:  2005
Palavras-chave:  Maximum entropy
Monte Carlo simulation
Production Economics
Resumo:  The paper reviews the empirical problem of estimating state-contingent production functions. The major problem is that states of nature may not be registered and/or that the number of observation per state is low. Monte Carlo simulation is used to generate an artificial, uncertain production environment based on Cobb Douglas production functions with state-contingent parameters. The parameters are subsequently estimated based on different sizes of samples using Generalized Least Squares and Generalized Maximum Entropy and the results are compared. It is concluded that Maximum Entropy may be useful, but that further analysis is needed to evaluate the efficiency of this estimation method compared to traditional methods.
Tipo:  Conference Paper or Presentation
Idioma:  Inglês
Identificador:  17604
Editor:  AgEcon Search
Relação:  European Association of Agricultural Economists>2005 International Congress, August 23-27, 2005, Copenhagen, Denmark
Contributed Paper
Formato:  13


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