Estimation of the Cobb-Douglas with zero input levels: bootstrapping and substitution
AbstractNew informational technologies have led to a rebirth of interest in primal production functions. This study revisits the vexing question of the estimation of the Cobb-Douglas production function given zero input levels for some observations. A resampling technique is proposed that produces a sample with nonzero input levels. The results of the resampling technique are then compared with the substitution results using informational measures of the implied cost shares.
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Bibliographic InfoArticle provided by Taylor and Francis Journals in its journal Applied Economics Letters.
Volume (Year): 7 (2000)
Issue (Month): 10 ()
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Web page: http://www.tandf.co.uk/journals/routledge/13504851.html
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- Salois, Matthew J. & Livanis, Grigorios T. & Moss, Charles B., 2006. "Estimation of Production Functions using Average Data," 2006 Annual Meeting, February 5-8, 2006, Orlando, Florida 35401, Southern Agricultural Economics Association.
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