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Bayesian Inferences on Fourier Flexible Functional Form in Agricultural Production AgEcon
Featherstone, Allen M.; Cader, Hanas A..
Flexible functional forms are used to examine the characteristics of production technologies. The Fourier functional form is capable of approximating any function globally, with the specified expansion. Unfortunately the exact form of the expansion is not known. The regularity conditions are likely to be violated without the exact form of expansion. In this paper we use a Bayesian approach to impose regularity conditions locally on a Fourier flexible functional from using agricultural production data. Monotonicity, concavity, convexity and elasticities are compared.
Tipo: Conference Paper or Presentation Palavras-chave: Cost function; Flexible functional form; Fourier series; Markov Chain Monte Carlo; Research Methods/ Statistical Methods.
Ano: 2005 URL: http://purl.umn.edu/19228
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RURAL WATER SUPPLIERS AND EFFICIENCY - EMPIRICAL EVIDENCE FROM EAST AND WEST GERMANY AgEcon
Sauer, Johannes.
ABSTRACT This discussion paper attempts the investigation of inefficiency with respect to water suppliers in rural areas of East and West Germany. This is done by using a nonradial measure of input-specific allocative inefficiency based on the demand system derived from a flexible cost function for the variable inputs labour, energy and chemicals. Distributional dependency with respect to the composed error term is reduced. The cost structure is modelled by applying a modified symmetric generalized McFadden functional form and the imposition of concavity restrictions as required by economic theory. Data on 47 rural water suppliers was collected by a written survey in 2002/2003. The applied second order flexible functional form performs well in the...
Tipo: Working or Discussion Paper Palavras-chave: Rural water supply; Flexible functional form; Input-specific allocative efficiency; Ländliche Wasserversorgung; Flexible funktionale Form; Inputspezifische allokative Effizienz; Resource /Energy Economics and Policy; C31; D24; Q25.
Ano: 2004 URL: http://purl.umn.edu/14866
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THE MULTI-PRODUCT ASYMPTOTICALLY IDEAL MODEL: AN APPLICATION TO AGRICULTURE AgEcon
Lusk, Jayson L.; Featherstone, Allen M..
This paper examines the Multi-Product Asymptotically Ideal Production Model as an alternative to the translog and normalized quadratic functional forms using farm level data. Factors such as ease of estimation, imposition of regularity conditions, and quantitative differences in empirical estimates are compared.
Tipo: Conference Paper or Presentation Palavras-chave: AIM; Asymptotically Ideal Model; Flexible functional form; Cost function; Production Economics; Research Methods/ Statistical Methods.
Ano: 1999 URL: http://purl.umn.edu/21503
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