IDEAS home Printed from https://ideas.repec.org/a/ags/jlaare/31142.html
   My bibliography  Save this article

The Structure of Models: Understanding Theory Reduction and Testing with a Production Example

Author

Listed:
  • Davis, George C.

Abstract

The language of economics is the language of models. Understanding the structure of this language offers many benefits. Unfortunately, the structure is ubiquitous in implementation but absent in documentation. This paper documents the structure of models in the context of the theory reduction and testing process. The structure is used to explain why there are several legitimate ways to deal with nonspherical errors in econometric models and why the recent work on stochastic preferences and technologies is a progressive step forward for the discipline. A production modeling exercise is presented to help illuminate the concepts.

Suggested Citation

  • Davis, George C., 2004. "The Structure of Models: Understanding Theory Reduction and Testing with a Production Example," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 29(01), April.
  • Handle: RePEc:ags:jlaare:31142
    as

    Download full text from publisher

    File URL: http://purl.umn.edu/31142
    Download Restriction: no

    References listed on IDEAS

    as
    1. Hausman,Daniel M., 1992. "The Inexact and Separate Science of Economics," Cambridge Books, Cambridge University Press, number 9780521415019, May.
    2. Arthur Lewbel, 2001. "Demand Systems with and without Errors," American Economic Review, American Economic Association, vol. 91(3), pages 611-618, June.
    3. George C. Davis, 1997. "The Logic of Testing Structural Change in Meat Demand: A Methodological Analysis and Appraisal," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(4), pages 1186-1192.
    4. Hausman,Daniel M., 1992. "The Inexact and Separate Science of Economics," Cambridge Books, Cambridge University Press, number 9780521425230, May.
    5. Rulon D. Pope & Richard E. Just, 2002. "Random Profits and Duality," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(1), pages 1-7.
    6. Davis, George C., 1997. "The Formal Logic Of Testing Structural Change In Meat Demand: A Methodological Analysis," Faculty Paper Series 23975, Texas A&M University, Department of Agricultural Economics.
    7. V. Eldon Ball & Jean-Christophe Bureau & Richard Nehring & Agapi Somwaru, 1997. "Agricultural Productivity Revisited," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(4), pages 1045-1063.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mészáros, Sándor & Szabó, Gábor, 2005. "A hazai agrárökonómiai kutatás a nemzetközi kihívások tükrében. Agrárgazdaság, vidékfejlesztés és agrárinformatika (AVA). Debreceni Egyetem Agrártudományi Centrum, Agrárgazdasági és Vidékfejlesztési K," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 707-712.
    2. Meszaros, Sandor, 2008. "Theory testing (hypothesis testing) in agricultural economics," Studies in Agricultural Economics, Research Institute for Agricultural Economics, issue 107, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:jlaare:31142. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search). General contact details of provider: http://edirc.repec.org/data/waeaaea.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.