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Distinguishing Errors in Measurement from Errors in Optimization

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  • Rulon D. Pope
  • Richard E. Just

Abstract

Typical econometric production practices under duality ignore the source of disturbances. We show that, depending on the source, a different approach to estimation is required. The typical approach applies under errors in factor input measurement rather than errors in optimization. An approach to the identification of disturbance sources is suggested. We find credible evidence in U.S. agriculture of errors in optimization compared to errors of measurement, and thus reject the typical specification. Copyright 2003, Oxford University Press.

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File URL: http://hdl.handle.net/10.1111/1467-8276.00124
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Bibliographic Info

Article provided by Agricultural and Applied Economics Association in its journal American Journal of Agricultural Economics.

Volume (Year): 85 (2003)
Issue (Month): 2 ()
Pages: 348-358

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Handle: RePEc:oup:ajagec:v:85:y:2003:i:2:p:348-358

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Cited by:
  1. Just, Richard E., 2003. "Risk research in agricultural economics: opportunities and challenges for the next twenty-five years," Agricultural Systems, Elsevier, vol. 75(2-3), pages 123-159.
  2. Just, Richard E., 2000. "Some Guiding Principles For Empirical Production Research In Agriculture," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 29(2), October.
  3. Letort, Elodie & Carpentier, Alain, 2009. "On Modelling Acreage Decisions within the Multinomial Logit Framework," 2009 Conference, August 16-22, 2009, Beijing, China 51615, International Association of Agricultural Economists.
  4. Jonathan Kaminski & Iddo Kan & Aliza Fleischer, 2013. "A Structural Land-Use Analysis of Agricultural Adaptation to Climate Change: A Proactive Approach," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 95(1), pages 70-93.
  5. Boussios, David & Barkley, Andrew P., 2012. "Kansas Grain Supply Response to Economic and Biophysical Factors, 1977-2007," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124385, Agricultural and Applied Economics Association.
  6. Bittencourt, Mauricio V.L., 2003. "Presence Of Stochastic Errors In The Input Demands: Are Dual And Primal Estimations Equivalent?," 2003 Annual meeting, July 27-30, Montreal, Canada 22096, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  7. Alain Carpentier & Elodie Letort, 2009. "Modeling acreage decisions within the multinomial Logit framework," Working Papers SMART - LERECO 200917, INRA UMR SMART.
  8. Ravallion, Martin, 2003. "In measuring aggregate"social efficiency"," Policy Research Working Paper Series 3166, The World Bank.
  9. Andersen, Matthew A. & Alston, Julian M. & Pardey, Philip G., 2007. "Capital Use Intensity and Productivity Biases," Staff Papers 7314, University of Minnesota, Department of Applied Economics.
  10. Letort, Elodie & Carpentier, Alain, 2009. "Endogeneity of acreage choices in input allocation equations: implied problems and a solution," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49217, Agricultural and Applied Economics Association.
  11. McConnell, Kenneth E. & Price, Michael, 2006. "The lay system in commercial fisheries: Origin and implications," Journal of Environmental Economics and Management, Elsevier, vol. 51(3), pages 295-307, May.
  12. Letort, Elodie & Carpentier, Alain, 2010. "Variable Input Allocation: Why Heterogeneity Matters?," 120th Seminar, September 2-4, 2010, Chania, Crete 109387, European Association of Agricultural Economists.

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