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Multi-input Multi-output Farm-level Cost Function: A Comparison of Least Squares and Entropy Estimators

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Author Info
Polome, P.
Fernagut, B.
Harmignie, O.
de Frahan, B. Henry

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Abstract

We introduce a modification of the quadratic-Leontieff multi-output cost function that is particularly suitable for the data of the Farm Accountancy Data Network. We present least squares and entropy estimates of that function and compare their results for a sample of crop farms. Our results are encouraging for the use of entropy estimators in cases in which farms are not assumed to share the same technology. Our approach can be seen as an extension of the Positive Mathematical Programming approach (Howitt, 1995). The extension consists in an explicit specification of inputs in the cost function and in the possibility of modeling several farms imultaneously.

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Publisher Info
Paper provided by European Association of Agricultural Economists in its series 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark with number 24727.

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Date of creation: 2005
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Handle: RePEc:ags:eaae05:24727

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Related research
Keywords: cost function; least squares estimator; entropy estimator; heterogeneity; Farm Management; C3; D61; Q12;

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  1. Thomas Heckelei & Hendrik Wolff, 2003. "Estimation of constrained optimisation models for agricultural supply analysis based on generalised maximum entropy," European Review of Agricultural Economics, Oxford University Press for the Foundation for the European Review of Agricultural Economics, vol. 30(1), pages 27-50, March.
  2. Wolfgang Britz & Thomas Heckelei & Hendrik Wolff, 2003. "Symmetric Positive Equilibrium Problem: A Framework for Rationalizing Economic Behavior with Limited Information: Comment," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 85(4), pages 1078-1081, November. [Downloadable!] (restricted)
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This page was last updated on 2009-11-26.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.