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Flexible panel data models for risky production technologies with an application to salmon aquaculture

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  • Ragner Tveterås
  • G. H. Wan

Abstract

Primal panel data models of production risk are estimated, using more flexible specifications than has previously been the practice. Production risk has important implications for the analysis of technology adoption and technical efficiency, since risk averse producers will take into account both the mean and variance of output when ranking alternative technologies. Hence, one should estimate technical change separately for the deterministic part and the risk part of thetechnology.

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  • Ragner Tveterås & G. H. Wan, 2000. "Flexible panel data models for risky production technologies with an application to salmon aquaculture," Econometric Reviews, Taylor & Francis Journals, vol. 19(3), pages 367-389.
    • Handle: RePEc:taf:emetrv:v:19:y:2000:i:3:p:367-389
    DOI: 10.1080/07474930008800477
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    Cited by:

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    3. Raju Guntukula & Phanindra Goyari, 2020. "Climate Change Effects on the Crop Yield and Its Variability in Telangana, India," Studies in Microeconomics, , vol. 8(1), pages 119-148, June.
    4. Holst, Rainer & Yu, Xiaohua, 2010. "Climate Change And Production Risk In Chinese Aquaculture," 2010: Climate Change in World Agriculture: Mitigation, Adaptation, Trade and Food Security, June 2010, Stuttgart-Hohenheim, Germany 91275, International Agricultural Trade Research Consortium.

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