Least squares estimation of joint production functions by the differential evolution method of global optimization
AbstractMost of the studies relating to estimation of joint production functions have noted two difficulties: first that allocation of inputs to different outputs is not known, and the second that a method of estimation cannot have more than one dependent variable, which necessitates construction of a composite output transformation function. This study has conducted some simulation experiments on joint estimation of the CES, the Transcendental and the Nerlove-Ringstad functions. Allocation parameters of inputs across the products have been introduced. Estimation has been done jointly, but without constructing a composite macro production function or an output transformation function. We use nonlinear least squares based on the Differential Evolution method of global optimization that permits fitting multiple production functions simultaneously.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 3 (2007)
Issue (Month): 51 ()
Contact details of provider:
Other versions of this item:
- Mishra, SK, 2007. "Least squares estimation of joint production functions by the Differential Evolution method of global optimization," MPRA Paper 4813, University Library of Munich, Germany.
- C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
- C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Diewert, W E, 1971. "An Application of the Shephard Duality Theorem: A Generalized Leontief Production Function," Journal of Political Economy, University of Chicago Press, vol. 79(3), pages 481-507, May-June.
- Vinod, H. D., 1976. "Canonical ridge and econometrics of joint production," Journal of Econometrics, Elsevier, vol. 4(2), pages 147-166, May.
- Mishra, SK, 2007. "Performance of Differential Evolution Method in Least Squares Fitting of Some Typical Nonlinear Curves," MPRA Paper 4634, University Library of Munich, Germany.
- Dhrymes, Phoebus J & Mitchell, B M, 1969. "Estimation of Joint Production Functions," Econometrica, Econometric Society, vol. 37(4), pages 732-36, October.
- Rao, Potluri, 1969. "A Note on Econometrics of Joint Production," Econometrica, Econometric Society, vol. 37(4), pages 737-38, October.
- Vinod, Hrishikesh D, 1969. "Econometrics of Joint Production-A Reply," Econometrica, Econometric Society, vol. 37(4), pages 739-40, October.
- Chizmar, John F & Zak, Thomas A, 1983. "Modeling Multiple Outputs in Educational Production Functions," American Economic Review, American Economic Association, vol. 73(2), pages 17-22, May.
- Chetty, V Karuppan, 1969. "Econometrics of Joint Production: A Comment," Econometrica, Econometric Society, vol. 37(4), pages 731, October.
- Mishra, SK, 2007.
"A Brief History of Production Functions,"
5254, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (John P. Conley).
If references are entirely missing, you can add them using this form.