Using Time-Series and Cross-Section Data to Estimate a Production Function with Positive and Negative Marginal Risks
作者:
WilliamE. Griffiths,
JockR. Anderson,
期刊:
Journal of the American Statistical Association
(Taylor Available online 1982)
卷期:
Volume 77,
issue 379
页码: 529-536
ISSN:0162-1459
年代: 1982
DOI:10.1080/01621459.1982.10477842
出版商: Taylor & Francis Group
关键词: Stochastic production functions;Error components;Additive disturbance;Heteroscedasticity
数据来源: Taylor
摘要:
Two production-function models with error components for time and firms and a heteroscedastic disturbance are proposed. Unlike previous models, these two permit the variance of output to increase or decrease as one of the inputs is increased. When the models and some suggested estimators are applied to the pastoral zone of eastern Australia, the results indicate that labor, water, and possibly fencing, are likely to reduce the variance of wool production; and that sheep, and buildings and land, are likely to increase the variance.
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