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Estimation Of Economic And Allocative Efficiencies Relative To Stochastic Frontier Profit Function

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  • Bagi, Faqir Singh

Abstract

This paper presents a stochastic frontier profit function model. The (frontier) optimal demand functions for variable inputs are derived from this model, and used to calculate the allocative efficiency of individual variable inputs. These models are used to estimate the economic efficiency, optimal demand for variable inputs, and allocative efficiency of individual farms.

Suggested Citation

  • Bagi, Faqir Singh, 1985. "Estimation Of Economic And Allocative Efficiencies Relative To Stochastic Frontier Profit Function," 1985 Annual Meeting, August 4-7, Ames, Iowa 278504, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea85:278504
    DOI: 10.22004/ag.econ.278504
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    File URL: https://ageconsearch.umn.edu/record/278504/files/aaea-1985-001.pdf
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    References listed on IDEAS

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    1. Lau, Lawrence J & Yotopoulos, Pan A, 1971. "A Test for Relative Efficiency and Application to Indian Agriculture," American Economic Review, American Economic Association, vol. 61(1), pages 94-109, March.
    2. Sidhu, Surjit S, 1974. "Relative Efficiency in Wheat Production in the Indian Punjab," American Economic Review, American Economic Association, vol. 64(4), pages 742-751, September.
    3. Bardhan, Pranab K, 1973. "Size, Productivity, and Returns to Scale: An Analysis of Farm-Level Data in Indian Agriculture," Journal of Political Economy, University of Chicago Press, vol. 81(6), pages 1370-1386, Nov.-Dec..
    4. Surjit S. Sidhu, 1974. "Economics of Technical Change in Wheat Production in the Indian Punjab," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 56(2), pages 217-226.
    5. Yotopoulos, Pan A & Lau, Lawrence J, 1973. "A Test for Relative Economic Efficiency: Some Further Results," American Economic Review, American Economic Association, vol. 63(1), pages 214-223, March.
    6. Bhagwati, Jagdish N & Chakravarty, Sukhamoy, 1969. "Contributions to Indian Economic Analysis: A Survey," American Economic Review, American Economic Association, vol. 59(4), pages 2-73, Part II S.
    7. Aigner, Dennis & Lovell, C. A. Knox & Schmidt, Peter, 1977. "Formulation and estimation of stochastic frontier production function models," Journal of Econometrics, Elsevier, vol. 6(1), pages 21-37, July.
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    Keywords

    Agricultural Finance; Farm Management;

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