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Multidimensional Evaluation Of Flexible Functional Forms For Production Analysis

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  • Ornelas, Fermin S.
  • Shumway, C. Richard

Abstract

Several common flexible functional forms are evaluated for Texas agricultural production utilizing three procedures. Nested hypothesis tests indicate that the normalized quadratic is the marginally-preferred functional form followed by the generalized Leontief. Predictive accuracy results are ambiguous between the generalized Leontief and the normalized quadratic. Statistical performance favors the normalized quadratic. These two functional forms consistently dominate the translog.

Suggested Citation

  • Ornelas, Fermin S. & Shumway, C. Richard, 1993. "Multidimensional Evaluation Of Flexible Functional Forms For Production Analysis," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 25(2), pages 1-13, December.
    • Handle: RePEc:ags:joaaec:15046
    DOI: 10.22004/ag.econ.15046
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    References listed on IDEAS

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    8. Shumway, C. Richard & Lim, Hongil, 1993. "Functional Form And U.S. Agricultural Production Elasticities," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 18(2), pages 1-11, December.
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    Cited by:

    1. Shumway, C. Richard, 1995. "Recent Duality Contributions In Production Economics," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 20(01), pages 1-17, July.
    2. Krishna Paudel & Christopher McIntosh, 2005. "Numeraire choice in agricultural supply analysis," Applied Economics, Taylor & Francis Journals, vol. 37(11), pages 1209-1214.
    3. Tzouvelekas, Evaggelos, 2000. "Approximation Properties and Estimation of the Translog Production Function with Panel Data," Agricultural Economics Review, Greek Association of Agricultural Economists, vol. 1(01), pages 1-16, January.

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