The State-Contingent Properties of Stochastic Production Functions
AbstractThe state-contingent properties of the most frequently used representations of stochastic production in the agricultural-economics literature are examined. Particular attention is paid to the cases of multiplicative uncertainty, additive uncertainty, and the Just-Pope production function. State-contingent technologies and their associated cost functions are reviewed, and that theory is applied to the stochastic production function. A generalization of the Just-Pope technology that has desirable state-contingent characteristics is proposed. Cost functions based upon state-contingent technologies are compared with cost functions based on a parametrized distribution representation of production uncertainty. Copyright 2002, Oxford University Press.
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.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Agricultural and Applied Economics Association in its journal American Journal of Agricultural Economics.
Volume (Year): 84 (2002)
Issue (Month): 2 ()
Contact details of provider:
Postal: 555 East Wells Street, Suite 1100, Milwaukee, Wisconsin 53202
Phone: (414) 918-3190
Fax: (414) 276-3349
Web page: http://www.aaea.org/
More information through EDIRC
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- David Adamson, 2010.
"Climate Change, Irrigation and Pests: Examining Heliothis in the Murray Darling Basin,"
Murray-Darling Program Working Papers
WP1M10, Risk and Sustainable Management Group, University of Queensland.
- Adamson, David, 2010. "Climate change, Irrigation and Pests: Examining Heliothis in the Murray Darling Basin," Risk and Sustainable Management Group Working Papers 149879, University of Queensland, School of Economics.
- Kunimitsu, Yoji, 2006. "Effects of Socio-Institutional and Emotional Factors of Japanese Farmland Rental Transactions," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 38(01), April.
- Stéphane Blancard & Jean-Philippe Boussemart & David Crainich & Hervé Leleu, 2008.
"How can allocative inefficiency reveal risk preference? An empirical investigation on French wheat farms,"
2008-ECO-02, IESEG School of Management.
- Blancard, Stephane & Boussemart, Jean-Philippe & Crainich, D. & Leleu, Herve, 2008. "How can allocative inefficiency reveal risk preference? An empirical investigation on French wheat farms," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 44208, European Association of Agricultural Economists.
- Jean-Philippe Boussemart & David Crainich & Hervé Leleu, 2012. "A decomposition of profit inefficiency into price expectation error, preferences towards risk and technical inefficiency," Working Papers 2012-ECO-04, IESEG School of Management.
- Roosen, Jutta & Hennessy, David A., 2003.
"Tests for the Role of Risk Aversion on Input Use,"
Staff General Research Papers
10071, Iowa State University, Department of Economics.
- Pedro Macedo & Elvira Silva & Manuel Scotto, 2014. "Technical efficiency with state-contingent production frontiers using maximum entropy estimators," Journal of Productivity Analysis, Springer, vol. 41(1), pages 131-140, February.
- Abedullah & Mubaraik Ali, 2006. "Quantifying the Extent and Nature of Risk in Alternative Cropping Patterns in Claveria, Philippines," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 45(2), pages 261-280.
- Chris O'Donnell & W.E. Griffiths, 2004.
"Estimating State-Contingent Production Frontiers,"
CEPA Working Papers Series
WP022004, School of Economics, University of Queensland, Australia.
- Svend Rasmussen, 2003.
"Criteria for optimal production under uncertainty. The state-contingent approach,"
Australian Journal of Agricultural and Resource Economics,
Australian Agricultural and Resource Economics Society, vol. 47(4), pages 447-476, December.
- Rasmussen, Svend, 2003. "Criteria for optimal production under uncertainty. The state-contingent approach," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 47(4), December.
- Rasmussen, Svend, 2004. "Optimizing Production under Uncertainty: Generalisation of the State-Contingent Approach and Comparison of Methods for Empirical Application," Unit of Economics Working papers 24184, Royal Veterinary and Agricultural University, Food and Resource Economic Institute.
- Jean-Philippe Boussemart & Walter Briec & Christophe Tavera, 2007.
"More evidence on technological catching-up in the manufacturing sector,"
2007-ECO-02, IESEG School of Management.
- Jean-Philippe Boussemart & Walter Briec & Christophe Tavera, 2011. "More evidence on technological catching-up in the manufacturing sector," Applied Economics, Taylor & Francis Journals, vol. 43(18), pages 2321-2330.
- Huettel, Silke & Narayana, Rashmi & Odening, Martin, 2011. "Measuring dynamic efficiency under uncertainty," Structural Change in Agriculture/Strukturwandel im Agrarsektor (SiAg) Working Papers 129062, Humboldt University Berlin, Department of Agricultural Economics.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.