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MULTIDIMENSIONAL EVALUATION OF FLEXIBLE FUNCTIONAL FORMS FOR PRODUCTION ANALYSIS AgEcon
Ornelas, Fermin S.; Shumway, C. Richard.
Several common flexible functional forms are evaluated for Texas agricultural production utilizing three procedures. Nested hypothesis tests indicate that the normalized quadratic is the marginally-preferred functional form followed by the generalized Leontief. Predictive accuracy results are ambiguous between the generalized Leontief and the normalized quadratic. Statistical performance favors the normalized quadratic. These two functional forms consistently dominate the translog.
Tipo: Journal Article Palavras-chave: Box-Cox; Functional form; Prediction; Production; Statistical performance; Production Economics.
Ano: 1993 URL: http://purl.umn.edu/15046
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SUPPLY RESPONSE AND IMPACT OF GOVERNMENT-SUPPORTED CROPS ON THE TEXAS VEGETABLE INDUSTRY AgEcon
Ornelas, Fermin S.; Shumway, C. Richard.
Supply functions, elasticity estimates, and nonjointness test results consistently indicated that few commodities compete economically in the production of six major Texas vegetables (cabbage, cantaloupes, carrots, onions, potatoes, and watermelons). Significant bias effects caused by government-supported commodities, fixed inputs, and technological change were observed and measured. Nonnested test results for the hypothesis of sequential decision making by vegetable producers were inconclusive, but they gave greater likelihood support to sequential than to contemporaneous decision making.
Tipo: Journal Article Palavras-chave: Demand and Price Analysis.
Ano: 1993 URL: http://purl.umn.edu/31640
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