|
|
|
| Registros recuperados: 26 | |
|
|
| Paris, Quirino. |
| The problem of determining whether quadratic programming models possess either unique or multiple optimal solutions is important for empirical analyses which use a mathematical programming framework. Policy recommendations which disregard multiple optimal solutions (where they exist) are potentially incorrect and less than efficient. This paper proposes a strategy and the associated algorithm for finding all optimal solutions to any positive semidefinite linear complementarity problem. One of the main results is that the set of complementary solutions is convex. Although not obvious, this proposition is analogous to the well-known result in linear programming which states that any convex combination of optimal solutions is itself optimal. |
| Tipo: Journal Article |
Palavras-chave: Research Methods/ Statistical Methods. |
| Ano: 1983 |
URL: http://purl.umn.edu/32089 |
| |
|
|
| Paris, Quirino; Caputo, Michael R.. |
| For the past twenty-five years, Dusansky and his associated co-authors have published a longseries of papers which are based on the same price-dependent utility function. The alleged price dependence, however, is fictitious in the sense that the level of exogenous money income can replace the commodity prices. The consequence is that the demand functions derived from Dusansky's utility function are identical and observationally equivalent to the demand functions obtained from a prototypical utility function. Since all the market and environmental effects are revealed only through the demand functions, the specification and use of a utility function such as that used by Dusansky is irrelevant and uninformative for the analysis of any economic problem where... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Demand and Price Analysis. |
| Ano: 1999 |
URL: http://purl.umn.edu/11971 |
| |
|
|
| Grimm, Sadi S.; Paris, Quirino; Williams, William A.. |
| The century-old law of the minimum proposed by von Liebig was tested using five independent sets of crop response data on wheat, corn, cotton, silage, and sugar beets. The rival models were polynomial functions reported in the literature as the most suitable models for interpreting those data. Overall, the von Liebig model performed very well. While the nonnested hypothesis test was inconclusive with regard to silage and sugar beets, the von Liebig model rejected the polynomial specifications for wheat, corn and cotton. |
| Tipo: Journal Article |
Palavras-chave: Crop Production/Industries. |
| Ano: 1987 |
URL: http://purl.umn.edu/32239 |
| |
|
| |
|
|
| Paris, Quirino; Caputo, Michael R.. |
| We prove that the symmetric and negative semidefinite modified Slutsky matrix derived by Samuelson and Sato (1984) for the money-goods model of the consumer, is identical to that derived by Pearce (1958) a quarter century before and restated sixteen years later by Berglas and Razin (1974). We also prove that these conditions are only sufficient for the problem at hand and are encompassed by a more general, modified Slutsky matrix that is necessary and sufficient as derived by Paris and Caputo (2001). These results have crucial relevance for test-ing the implications of consumer behavior. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Consumer/Household Economics; Research Methods/ Statistical Methods. |
| Ano: 2001 |
URL: http://purl.umn.edu/11949 |
| |
|
|
| Caputo, Michael R.; Paris, Quirino. |
| An exhaustive comparative statics analysis of a general price taking cost-minimizing model of the firm operating under the influence of price-induced technical progress is carried out from a dual vista. The resulting refutable implications are observable and thus amenable to empirical verification, and take on the form of a symmetric and negative semidefinite matrix. Using data from individual cotton gins in Californias San Joaquin Valley, we empirically test the complete set of implications of the price-induced technical progress theory using both classical and Bayesian statistical procedures. We find that the data are fully consistent with the atemporal, costminimizing, price-induced microeconomic theory of technical progress. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Research and Development/Tech Change/Emerging Technologies. |
| Ano: 2004 |
URL: http://purl.umn.edu/11992 |
| |
|
|
| Easter, Christopher D.; Paris, Quirino. |
| Risky output prices and production characterise Australian agriculture. Exports are vitally important, sometimes relying heavily on a particular market. In this study a model is developed to include explicitly both output price and technological risks as well as multiple output relationships. It is used to show that changes in US beef import policy generating a 10 per cent beef price fall could reduce Australian beef supply by 3.5 per cent and grazing industry net revenue by 8.4 per cent, despite some switching from beef production to other enterprises. |
| Tipo: Journal Article |
Palavras-chave: Demand and Price Analysis; Risk and Uncertainty. |
| Ano: 1983 |
URL: http://purl.umn.edu/22824 |
| |
|
|
| Paris, Quirino; Caputo, Michael R.. |
| In 1944, Marschak and Andrews published a seminal paper on how to obtain consistent estimates of a production technology. The original formulation of the econometric model regarded the joint estimation of the production function together with the first-order necessary conditions for profit-maximizing behavior. In the seventies, with the advent of econometric duality, the preference seemed to have shifted to a dual approach. Recently, however, Mundlak resurrected the primal-versus-dual debate with a provocative paper titled “Production Function Estimation: Reviving the Primal.” In that paper, the author asserts that the dual estimator, unlike the primal approach, is not efficient because it fails to utilize all the available information. In this paper we... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Primal; Dual; Cobb-Douglas; Nonlinear errors-in-variables; Productivity Analysis; Research Methods/ Statistical Methods; D0; C3. |
| Ano: 2004 |
URL: http://purl.umn.edu/93743 |
| |
|
|
| Paris, Quirino. |
| With the advent of the almost ideal demand system (AIDS) of Deaton and Muellbauer, the estimation of consumer demand functions revolves around specifications that use flexible functional forms of the indirect utility function. This dual approach has put on the backburner the traditional primal approach because the direct utility function exists only in a latent state. The lack of explicit, analytical invertibility of either system, however, is an indication that focusing exclusively on the dual side of the consumer problem is equivalent to disregard potentially important and independent information residing with the primal side. This paper suggests that efficient estimates (in the sense of using all the available information) of the demand functions... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Consumer demand functions; Primal; Dual; Nonlinear errors-in-variables; Demand and Price Analysis; Research Methods/ Statistical Methods; D0. |
| Ano: 2003 |
URL: http://purl.umn.edu/93739 |
| |
|
|
| Paris, Quirino; Caputo, Michael R.. |
| In 1944, Marschak and Andrews published a seminal paper on how to obtain consistent estimates of a production technology. The original formulation of the econometric model regarded the joint estimation of the production function together with the first-order necessary conditions for profit-maximizing behavior. In the seventies, with the advent of econometric duality, the preference seemed to have shifted to a dual approach. Recently, however, Mundlak resurrected the primal-versus-dual debate with a provocative paper titled Production Function Estimation: Reviving the Primal. In that paper, the author asserts that the dual estimator, unlike the primal approach, is not efficient because it fails to utilize all the available information. In this paper we... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Research and Development/Tech Change/Emerging Technologies; Research Methods/ Statistical Methods. |
| Ano: 2004 |
URL: http://purl.umn.edu/11975 |
| |
|
|
| Paris, Quirino; Caputo, Michael R.. |
| The claim has been made that the Generalized Maximum Entropy (GME) estimator of Golan, Judge and Miller is not sensitive to variations in the support bounds of either the parameters or the error terms. In this paper, we scrutinized this claim by means of Monte Carlo experiments and found that the parameter estimates are impacted in a substantial way by these changes. We also analyzed the famous data sample on the US manufacturing industry used by Cobb and Douglas in 1934 and found that the GME estimator is very sensitive to changes in support bounds. We conclude with a general result by Caputo and Paris according to which any support bound variation produces unexpected responses in the parameter estimates. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Research Methods/ Statistical Methods. |
| Ano: 2001 |
URL: http://purl.umn.edu/11966 |
| |
|
| |
|
|
| Paris, Quirino; Caputo, Michael R.. |
| In 1944, Marschak and Andrews published a seminal paper on how to obtain consistent estimates of a production technology. The original formulation of the econometric model regarded the joint estimation of the production function together with the first-order necessary conditions for profit-maximizing behavior. In the seventies, with the advent of econometric duality, the preference seemed to have shifted to a dual approach. Recently, however, Mundlak resurrected the primal-versus-dual debate with a provocative paper titled "Production Function Estimation: Reviving the Primal." In that paper, the author asserts that the dual estimator, unlike the primal approach, is not efficient because it fails to utilize all the available information. In this paper... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Research Methods/ Statistical Methods. |
| Ano: 2004 |
URL: http://purl.umn.edu/20358 |
| |
|
|
| Paris, Quirino; Caputo, Michael R.. |
| In 1944, Marschak and Andrews published a seminal paper on how to obtain consistent estimates of a production technology. The original formulation of the econometric model regarded the joint estimation of the production function together with the first-order necessary conditions for profit-maximizing behavior. In the seventies, with the advent of duality theory, the preference seemed to have shifted to a dual approach. Recently, however, Mundlak resurrected the primal-versus-dual debate with a provocative paper titled “Production Function Estimation: Reviving the Primal.” In that paper, the author asserts that the dual estimator, unlike the primal approach, is not efficient because it fails to utilize all the available information. In this paper we argue... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Primal; Dual; Cobb-Douglas; Nonlinear errors-in-variables; Productivity Analysis; Research Methods/ Statistical Methods; D0; C3. |
| Ano: 2004 |
URL: http://purl.umn.edu/93742 |
| |
|
|
| Paris, Quirino. |
| Multicollinearity hampers empirical econometrics. The remedies proposed to date suffer from pitfalls of their own. The ridge estimator is not generally accepted as a vital alternative to the ordinary least-squares (OLS) estimator because it depends upon unknown parameters. The generalized maximum entropy (GME) estimator of Golan, Judge and Miller depends upon subjective exogenous information that affects the estimated parameters in an unpredictable way. This paper presents novel maximum entropy estimators inspired by the theory of light that do not depend upon any additional information. Monte Carlo experiments show that they are not affected by any level of multicollinearity and dominate OLS uniformly. The Leuven estimators are consistent and... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Multicollinearity; Mean squared error; Ordinary least squares; Generalized maximum entropy; Research Methods/ Statistical Methods; C2. |
| Ano: 2001 |
URL: http://purl.umn.edu/11991 |
| |
|
|
| Paris, Quirino. |
| This paper presents a theory of technical progress that interprets the price-induced conjecture of Hicks. It provides also an exhaustive set of comparative statics conditions that constitute the scaffolding for an empirical test of the theory. A crucial assumption is that entrepreneurs make decisions about techniques on the basis of expected information about prices and quantities. Another assumption is that these decisions are made in order to fulfill a profitability objective. The novelty of our approach is that expected relative prices enter the production function as shifter of the technology frontier. The consequence of this assumption is an expansion of the traditional Shephard lemma that is useful for identifying the portion of input quantities that... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Research and Development/Tech Change/Emerging Technologies. |
| Ano: 2005 |
URL: http://purl.umn.edu/11943 |
| |
|
|
| Paris, Quirino. |
| This paper demonstrates the existence of a unique solution of the PMP problem when both observed output quantities and limiting input prices are taken as calibrating benchmarks. This version of PMP avoids the use of a user-determined small positive number ε originally introduced for guaranteeing that the dual (shadow) price of binding input constraints be positive. Furthermore, the paper shows how to obtain endogenous output supply and input demand elasticities that match available information about them in the form of previously estimated parameters for an entire region or sector. The framework is applied to a sample of farms also for the case that admits no production for some of the crop activities. The calibrating solution is very close to the observed... |
| Tipo: Working Paper |
Palavras-chave: Positive mathematical programming; Solution uniqueness; Supply elasticities; Calibrating model; Productivity Analysis; Research Methods/ Statistical Methods; C6. |
| Ano: 2015 |
URL: http://purl.umn.edu/200491 |
| |
|
| |
|
|
| Paris, Quirino. |
| The Dynamic Positive Equilibrium Problem (DPEP) is a methodology for dealing with time series about economic agents decisions, regardless of the amount of available information. The approach is articulated in three phases, as in the static counterpart Symmetric Positive Equilibrium Problem (SPEP), with the variant that it must be preceded by the estimation of the equation of motion which characterizes a dynamic model. Furthermore, the definition of marginal cost in the DPEP model is different from the same notion in the static SPEP. In this paper, the DPEP approach was applied to a panel data dealing with annual crops from California agriculture for a horizon of eight years. The dynamic character of the DPEP model is based upon then assumption of... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Research Methods/ Statistical Methods. |
| Ano: 2001 |
URL: http://purl.umn.edu/11956 |
| |
|
|
| Paris, Quirino. |
| It is well known that consistent estimators of errors-in-variables models require knowledge of the ratio of error variances. What is not well known is that a Joint Least Squares estimator is robust to a wide misspecification of that ratio. Through a series of Monte Carlo experiments we show that an easy-to-implement estimator produces estimates that are nearly unbiased for a wide range of the ratio of error variances. These MC analyses encompass linear and nonlinear specifications and also a system on nonlinear equations where all the variables are measured with errors. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Research Methods/ Statistical Methods. |
| Ano: 2004 |
URL: http://purl.umn.edu/11945 |
| |
| Registros recuperados: 26 | |
|
|
|
