- Economics - Research Publications
Economics - Research Publications
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ItemEstimating and combining national income distributions using limited dataChotikapanich, D ; Griffiths, WE ; Rao, DSP (TAYLOR & FRANCIS INC, 2007-01)
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ItemEstimating variable returns to scale production frontiers with alternative stochastic assumptionsGriffiths, WE ; O'Donnell, CJ (ELSEVIER SCIENCE SA, 2005-06)
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ItemEstimating state-contingent production frontiersO'Donnell, CJ ; Griffiths, WE (WILEY, 2006-02)Chambers and Quiggin (2000) use state‐contingent representations of risky production technologies to establish important theoretical results concerning producer behavior under uncertainty. Unfortunately, perceived problems in the estimation of state‐contingent models have limited the usefulness of the approach in policy formulation. We show that fixed and random effects state‐contingent production frontiers can be conveniently estimated in a finite mixtures framework. An empirical example is provided. Compared to conventional estimation approaches, we find that estimating production frontiers in a state‐contingent framework produces significantly different estimates of elasticities, firm technical efficiencies, and other quantities of economic interest.