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| Registros recuperados: 17 | |
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| Griffiths, William E.; O'Donnell, Christopher J.; Cruz, Agustina Tan. |
| Systems of equations comprising cost functions and first‐order derivative equations are often used to estimate characteristics of production technologies. Unfortunately, many estimated systems violate the regularity conditions implied by economic theory. Sampling theory methods can be used to impose these conditions globally, but these methods destroy the flexibility properties of most functional forms. We demonstrate how Bayesian methods can be used to maintain flexibility by imposing regularity conditions locally. The Bayesian approach is used to estimate a system of cost and share equations for the merino wool‐growing sector. The effect of local imposition of monotonicity and concavity on the signs and magnitudes of elasticities is examined. |
| Tipo: Journal Article |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 2000 |
URL: http://purl.umn.edu/117790 |
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| O'Donnell, Christopher J.. |
| We use a New Empirical Industrial Organisation (NEIO) approach to estimate industry marketing margins for several Australian dairy products. Our model allows for differences in input- and outputmarket conjectural elasticities under the assumption of a fixed proportions production technology. Other assumptions on the production technology include the use of a single agricultural input to produce multiple outputs, and substitutability between agricultural and non-agricultural inputs. Two alternative methods are used to decompose the price of manufacturing milk into the prices of components used to produce different manufacturing milk products. We estimate margins equations for carton milk, wholemilk powder (WMP), butter, cheese and skim-milk powder (SMP)... |
| Tipo: Presentation |
Palavras-chave: Agribusiness; Marketing. |
| Ano: 1999 |
URL: http://purl.umn.edu/124502 |
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| O'Donnell, Christopher J.. |
| A flexible functional form can provide a second-order approximation to an arbitrary unknown function at a single point. Except in special cases, the parameters of flexible forms will vary from one point of approximation to another. I use this property to show that, in general, if an unknown function is homogeneous then i) Euler's Theorem gives rise to linear equality constraints involving both the data and a set of observation-varying flexible form parameters, ii) the common practice of imposing homogeneity on flexible functional forms is unnecessarily restrictive, and iii) it is possible to obtain estimates of the observation-varying parameters of approximating flexible forms using a Singular Value Decomposition (SVD) estimator. Two illustrations are... |
| Tipo: Presentation |
Palavras-chave: Research Methods/ Statistical Methods. |
| Ano: 2000 |
URL: http://purl.umn.edu/123713 |
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| Hill, Debbie J.; O'Donnell, Christopher J.; Piggott, Roley R.; Griffith, Garry R.. |
| In this paper, the dual approach to ex ante research evaluation in a multiple-input, multiple-output industry is explained and demonstrated. A simplified, illustrative model is developed based on a number of fundamental characteristics of the Australian wool industry and output-augmenting technical change. A normalised quadratic restricted profit function of Australian wool production is specified in terms of effective rather than actual prices. The estimated short-run supply elasticities are quite inelastic. The results of the simplified model show that the development and adoption of a 10 per cent yield-increasing wool technology would result in a 19.6 per cent fall in the actual price of wool and a 9.8 per cent increase in the actual quantity of wool... |
| Tipo: Presentation |
Palavras-chave: Livestock Production/Industries; Research Methods/ Statistical Methods. |
| Ano: 2000 |
URL: http://purl.umn.edu/123661 |
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| O'Donnell, Christopher J.; Griffith, Garry R.; Nightingale, John J.; Piggott, Roley R.. |
| Recent empirical studies have found significant evidence of departures from competition in the input side of the Australian bread, breakfast cereal and margarine end-product markets. For example, Griffith (2000) found that firms in some parts of the processing and marketing sector exerted market power when purchasing grains and oilseeds from farmers. As noted at the time, this result accorded well with the views of previous regulatory authorities (p.358). In the mid-1990s, the Prices Surveillence Authority (PSA 1994)determined that the markets for products contained in the Breakfast Cereals and Cooking Oils and Fats indexes were "not effectively competitive"(p.14). The PSA consequently maintained price surveillence on the major firms in this product... |
| Tipo: Report |
Palavras-chave: Industrial Organization; Marketing. |
| Ano: 2004 |
URL: http://purl.umn.edu/28008 |
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| O'Donnell, Christopher J.. |
| The total factor productivity (TFP) of a multiple-output multiple-input firm can be defined as the ratio of an aggregate output to an aggregate input. With this definition, index numbers that measure changes in TFP can be expressed as the ratio of an output quantity index to an input quantity index. This paper uses the term multiplicatively complete to describe TFP index numbers that are constructed in this way. O'Donnell (2008) shows that, irrespective of the returns to scale and/or scope properties of the production technology, all multiplicatively complete TFP index numbers can be decomposed into widely-used measures of technical change and technical efficiency change, as well as unambiguous measures of scale and mix efficiency change. Members of the... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Productivity Analysis. |
| Ano: 2009 |
URL: http://purl.umn.edu/47625 |
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| Dent, Siobahn K.; Piggott, Roley R.; O'Donnell, Christopher J.; Griffith, Garry R.. |
| Australian broadacre agriculture is typified by strong cross-commodity relationships, where sheep and cattle grazing enterprises compete for pasture and both compete with wheat and other crops for land. Further, some commodities produced by multi-product farms are also used in the production of final products that are substitutes in demand, such as beef and lamb. Economic analyses of the beef market, for example, should also include consideration of the market for the related product, lamb. In this paper the effects of exogenous demand and supply shifters on the wholesale-farm price ratio in two closely related industries, beef and lamb, are examined in a Gardner type of model and the effects of excluding consideration of the cross-commodity interactions... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Marketing margins; Beef; Lamb; General equilibrium elasticities; Demand and Price Analysis. |
| Ano: 2003 |
URL: http://purl.umn.edu/57859 |
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| O'Donnell, Christopher J.; Shankar, Sriram. |
| Chambers and Quiggin (2000) have used state-contingent production theory to establish important results concerning economic behaviour in the presence of uncertainty, including problems of consumer choice, the theory of the firm, and principal-agent relationships. Empirical application of the state contingent approach has proved difficult, not least because most of the data needed for applying standard econometric methods are lost in unrealized states of the world. O'Donnell and Griffiths (2006) show how a restrictive type of state-contingent technology can be estimated in a finite mixtures framework. This paper shows how Bayesian methodology can be used to estimate more flexible types of state-contingent technologies. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Environmental Economics and Policy. |
| Ano: 2009 |
URL: http://purl.umn.edu/50898 |
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| Hutasuhut, Maradoli; O'Donnell, Christopher J.; Chang, Hui-Shung (Christie); Griffith, Garry R.; Doran, Howard E.. |
| In this study, meat consumption and socio-demographic data from the 1990, 1993 and 1996 SUSENAS Household Food Expenditure and Consumption Surveys were employed to estimate the demand for meats in Indonesia. The provinces of DKI Jakarta and West Java were chosen as the areas of study because of the population, level of meat consumption and the availability and quality of information in these two provinces. Several statistical and econometric procedures were performed. Firstly, a cluster analysis (Nicol, 1991) was used to aggregate the 16 meat types recorded in the SUSENAS into four Meat Groups (MG-1, 2, 3 and 4). Secondly, a double truncation procedure was used to estimate the linear approximation of the Almost Ideal Demand System (LA/AIDS) because of the... |
| Tipo: Presentation |
Palavras-chave: Censoring; Cluster analysis; Cross-sectional data; Linearised AIDS.; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety. |
| Ano: 2000 |
URL: http://purl.umn.edu/123666 |
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| Doran, Howard E.; O'Donnell, Christopher J.; Griffith, Garry R.; Chang, Hui-Shung (Christie); Hutasuhut, Maradoli. |
| Meat consumption and socio-demographic data from the 1990, 1993 and 1996 SUSENAS Household Food Expenditure and Consumption Surveys were employed to estimate the demand for meats in Indonesia. The focus was on the Provinces of DKI Jakarta and West Java where about one-fourth of the Indonesian population reside. Statistical and econometric procedures were used to aggregate the 16 meat types recorded in the SUSENAS into four Meat Groups. They were then used to estimate the Linear Approximation of the Almost Ideal Demand System (LA/AIDS) model, taking into account zero observations and the restrictions on budget shares. The demand for Meat Group 1 (with the dominant meat, beef) is income-inelastic, whereas for Meat Group 2 (with the dominant meat,... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Beef demand; Almost ideal demand system; Commodity aggregation; Demand and Price Analysis; Food Consumption/Nutrition/Food Safety; Livestock Production/Industries. |
| Ano: 2001 |
URL: http://purl.umn.edu/12915 |
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| O'Donnell, Christopher J.. |
| Polluting technologies can be represented using output distance functions. A common approach to estimating such functions is to factor out one of the outputs and estimate the resulting equation using well-known stochastic frontier estimation methods, including maximum likelihood. A problem with this approach is that the outputs that are not factored out may be correlated with the error term, leading to biased and inconsistent estimates. This paper addresses the problem in a Bayesian framework. The methodology is applied to data on U.S. electric utilities. Results include estimates of technical inefficiencies and the shadow price of a pollutant. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Environmental Economics and Policy. |
| Ano: 2007 |
URL: http://purl.umn.edu/10413 |
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| Registros recuperados: 17 | |
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