Multidimensional Evaluation of Flexible Functional Forms for Production Analysis
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Published:1993-12
Issue:2
Volume:25
Page:106-118
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ISSN:1074-0708
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Container-title:Journal of Agricultural and Applied Economics
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language:en
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Short-container-title:J. Agric. Appl. Econ.
Author:
Ornelas Fermin S.,Shumway C. Richard
Abstract
AbstractSeveral 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.
Publisher
Cambridge University Press (CUP)
Subject
Economics and Econometrics,Agricultural and Biological Sciences (miscellaneous)
Reference32 articles.
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2. Flexible Consumer Demand Systems and Linear Estimation: Food in India
3. Functional Form and U.S. Agricultural Production Elasticities;Shumway;J. Agr. and Res. Econ.,1993
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