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| 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 |
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| 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 |
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| 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 |
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