


Registros recuperados: 11  


Paris, Quirino; Caputo, Michael R.. 
In a recent paper, Mundlak assumes that the pricetaking, riskneutral and profitmaximizing entrepreneur makes his decisions on the basis of a planning model that maximizes expected profit using expected prices. In the same paper, the author asserts that when there is no sample price variation across competitive firms, it is impossible to estimate the supply and factor demand functions from crosssection data using a dual approach. In a famous paper, titled “To Dual or not to Dual,” Pope asserted a similar opinion. This paper shows that, using Mundlak’s assumption about planning decisions based upon expected profit, it is possible to use a dual estimator to estimate supply and factor demand functions. This objective is achieved by using Mundlak’s... 
Tipo: Working or Discussion Paper 
Palavraschave: Constant prices; Dual approach; CobbDouglas; Nonlinear errorsinvariables; Demand and Price Analysis; Research Methods/ Statistical Methods; D0; C3. 
Ano: 2003 
URL: http://purl.umn.edu/93740 
 


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 firstorder necessary conditions for profitmaximizing 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 primalversusdual 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 
Palavraschave: Primal; Dual; CobbDouglas; Nonlinear errorsinvariables; Productivity Analysis; Research Methods/ Statistical Methods; D0; C3. 
Ano: 2004 
URL: http://purl.umn.edu/93743 
 


Pennings, Joost M.E.; Garcia, Philip; Irwin, Scott H.. 
Heterogeneity, i.e., the notion that individuals respond differently to economic stimuli, can have profound consequences for the interpretation of behavior and the formulation of agricultural policy. This paper compares and evaluates three grouping techniques that can be used to account for heterogeneity in financial behavior. Two are well established: companytype grouping and cluster analysis. A third, the generalized mixture regression model, has recently been developed and is worth considering as market participants are grouped such that their response to the determinants of economic behavior is similar. We evaluate the grouping methods in a hedging framework by assessing their ability to reflect relationships consistent with theory. The empirical... 
Tipo: Conference Paper or Presentation 
Palavraschave: Economic behavior; Heterogeneity; Hedging; Methods; Risk and Uncertainty; A10; B40; C1; D0; G0; L2; Q13. 
Ano: 2011 
URL: http://purl.umn.edu/114787 
 


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 firstorder necessary conditions for profitmaximizing 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 primalversusdual 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 
Palavraschave: Primal; Dual; CobbDouglas; Nonlinear errorsinvariables; Productivity Analysis; Research Methods/ Statistical Methods; D0; C3. 
Ano: 2004 
URL: http://purl.umn.edu/93742 
 


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 
Palavraschave: Consumer demand functions; Primal; Dual; Nonlinear errorsinvariables; Demand and Price Analysis; Research Methods/ Statistical Methods; D0. 
Ano: 2003 
URL: http://purl.umn.edu/93739 
 


Interis, Matthew G.; Haab, Timothy C.. 
The relationship between norms, selfsanctioning, and people’s decisions about contributing to public goods is complex and often misunderstood in the public goods literature. We develop a model in which individuals hold an injunctive norm indicating how much they believe one should contribute to the public good. From the model we derive the following testable hypotheses: an increase in one’s perception of the norm level of contribution to the public good (1) induces negative selfsanctioning and (2) will lead one to contribute more to the public good, and (3) that contributing to the public good induces positive selfsanctioning. To test these hypotheses, we elicit stated preferences for contributions to an organization which offsets carbon emissions... 
Tipo: Conference Paper or Presentation 
Palavraschave: Public goods; Norms; Sanctioning; Image; Environmental Economics and Policy; Public Economics; H4; Q5; D0. 
Ano: 2009 
URL: http://purl.umn.edu/55964 
 

 


Athanassoglou, Stergios; Sheriff, Glenn; Siegfried, Tobias; Tim Huh, Woonghee. 
Standard economic models of groundwater management impose restrictive assumptions regarding perfect transmissivity (i.e., the aquifer behaves as a bathtub), no external effects of groundwater stocks, observability of individual extraction rates, and/or homogenous agents. In this article, we derive regulatory mechanisms for inducing the socially optimal extraction path in Markov perfect equilibrium for aquifers in which these assumptions do not hold. In spite of the complexity of the underlying system, we identify an interesting case in which a simple linear mechanism achieves the social optimum. To illustrate potential problems that can arise by erroneously imposing simplifying assumptions, we conduct a simulation based on data from the Indian state of... 
Tipo: Working or Discussion Paper 
Palavraschave: Common Property Resource; Differential Games; Groundwater Extraction; Imperfect Monitoring; Markov Perfect Equilibrium; Environmental Economics and Policy; C6; D0. 
Ano: 2011 
URL: http://purl.umn.edu/102502 
 

 


Ridier, Aude; Chaib, Karim; Roussy, Caroline. 
In the paper we investigate the role played by both production and market risks on farmer’s decision to adopt long rotations (over 2 years), considered as innovative cropping systems. We build a multiperiod dynamic farm model (run under GAMS) that arbitrates each year between traditional and innovative rotations. With discrete stochastic programming, the production risk is accounted as an intrayear risk; yearly farming operations are declined according to a decision tree where probabilities are assigned. Subjective yield and cost distributions linked to this decision tree are elicited among a sample of 13 farmers that are experiencing this innovation in Southwestern France. The price risk is randomly distributed with a given market trend. The crop... 
Tipo: Presentation 
Palavraschave: Innovative cropping systems; Dynamic model; Crop rotation decision; Risk; Subjective probabilities; Risk and Uncertainty; C61; D0; Q12; Q55. 
Ano: 2012 
URL: http://purl.umn.edu/122440 
 

 
Registros recuperados: 11  


