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Estimation of Production Functions using Average Data

Author

Listed:
  • Salois, Matthew J.
  • Livanis, Grigorios T.
  • Moss, Charles B.

Abstract

Agricultural economists rely on aggregated data at various levels depending on data availability and the econometric techniques employed. However, the implication of aggregation on economic relationships remains an open question. To examine the impact of aggregation on estimation, Monte Carlo techniques and data are employed on production practices.

Suggested Citation

  • 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.
    • Handle: RePEc:ags:saeaso:35401
    DOI: 10.22004/ag.econ.35401
    as

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    File URL: https://ageconsearch.umn.edu/record/35401/files/sp06sa03.pdf
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    References listed on IDEAS

    as
    1. Charles Moss, 2000. "Estimation of the Cobb-Douglas with zero input levels: bootstrapping and substitution," Applied Economics Letters, Taylor & Francis Journals, vol. 7(10), pages 677-679.
    2. Bertrand M. Koebel, 2002. "Can Aggregation Across Goods be Achieved by Neglecting The Problem? Property Inheritance and Aggregation Bias," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 43(1), pages 223-255, February.
    3. Stoker, Thomas M, 1993. "Empirical Approaches to the Problem of Aggregation Over Individuals," Journal of Economic Literature, American Economic Association, vol. 31(4), pages 1827-1874, December.
    4. Jesus Felipe & Franklin M. Fisher, 2003. "Aggregation in Production Functions: What Applied Economists should Know," Metroeconomica, Wiley Blackwell, vol. 54(2‐3), pages 208-262, May.
    5. Hyslop, Dean R & Imbens, Guido W, 2001. "Bias from Classical and Other Forms of Measurement Error," Journal of Business & Economic Statistics, American Statistical Association, vol. 19(4), pages 475-481, October.
    6. Steven Klepper & Edward E. Leamer, 1982. "Consistent Sets of Estimates," UCLA Economics Working Papers 282, UCLA Department of Economics.
    7. Chanjin Chung & Harry M. Kaiser, 2002. "Advertising Evaluation and Cross-Sectional Data Aggregation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(3), pages 800-806.
    8. Levi, Maurice D, 1973. "Errors in the Variables Bias in the Presence of Correctly Measured Variables," Econometrica, Econometric Society, vol. 41(5), pages 985-986, September.
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