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Texas Field Crops: Estimation With Curvature

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Author Info

  • Shumway, C. Richard
  • Alexander, William P.
  • Talpaz, Hovav

Abstract

Some implications of theory are easily maintained in econometric estimation, but computational costs of maintaining curvature properties (sufficient for existence of an optimal solution) have often proved prohibitive. They also have been violated frequently by unrestricted econometric estimates. A computationally manageable procedure for maintaining and testing curvature is used here to obtain estimates of product supplies and input demands for Texas field crops consistent with the theory of the competitive industry. The curvature properties are tested along with several technology restrictions.

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File URL: http://purl.umn.edu/32502
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Bibliographic Info

Article provided by Western Agricultural Economics Association in its journal Western Journal of Agricultural Economics.

Volume (Year): 15 (1990)
Issue (Month): 01 (July)
Pages:

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Handle: RePEc:ags:wjagec:32502

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Web page: http://waeaonline.org/
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Related research

Keywords: Crop Production/Industries;

References

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  1. A. Ronald Gallant & Gene H. Golub, 1982. "Imposing Curvature Restrictions on Flexible Functional Forms," Discussion Papers 538, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  2. Dale W. Jorgenson & Lawrence J. Lau, 1975. "The Structure of Consumer Preferences," NBER Chapters, in: Annals of Economic and Social Measurement, Volume 4, number 1, pages 49-101 National Bureau of Economic Research, Inc.
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Cited by:
  1. McIntosh, Christopher S. & Shumway, C. Richard, 1991. "Multiproduct Production Choices And Policy Response," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 16(02), December.
  2. Coyle, Barry T., 1993. "On Modeling Systems Of Crop Acreage Demands," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 18(01), July.

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