IDEAS home Printed from https://ideas.repec.org/a/cup/jagaec/v25y1993i02p106-118_01.html
   My bibliography  Save this article

Multidimensional Evaluation of Flexible Functional Forms for Production Analysis

Author

Listed:
  • 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, Cambridge University Press, vol. 25(2), pages 106-118, December.
    • Handle: RePEc:cup:jagaec:v:25:y:1993:i:02:p:106-118_01
    as

    Download full text from publisher

    File URL: https://www.cambridge.org/core/product/identifier/S1074070800019003/type/journal_article
    File Function: link to article abstract page
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. 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.
    2. Dutta, Jayasri, 1980. "On Predictive Evaluation of Econometric Models," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 21(2), pages 379-390, June.
    3. Hongil Lim & C. Richard Shumway, 1992. "Separability in State-Level Agricultural Technology," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 74(1), pages 120-131.
    4. Appelbaum, Elie, 1979. "On the Choice of Functional Forms," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 20(2), pages 449-458, June.
    5. C. Richard Shumway & William P. Alexander, 1988. "Agricultural Product Supplies and Input Demands: Regional Comparisons," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(1), pages 153-161.
    6. Gurushri Swamy & Hans P. Binswanger, 1983. "Flexible Consumer Demand Systems and Linear Estimation: Food in India," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 65(4), pages 675-684.
    7. Ramon E. Lopez, 1984. "Estimating Substitution and Expansion Effects Using a Profit Function Framework," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(3), pages 358-367.
    8. J. P. Houck & M. E. Ryan, 1972. "Supply Analysis for Corn in the United States: The Impact of Changing Government Programs," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 54(2), pages 184-191.
    9. Berndt, Ernst R & Khaled, Mohammed S, 1979. "Parametric Productivity Measurement and Choice among Flexible Functional Forms," Journal of Political Economy, University of Chicago Press, vol. 87(6), pages 1220-1245, December.
    10. Houck, James P. & Ryan, Mary E., 1972. "Supply Analysis For Corn In The United States: The Impact Of Changing Government Programs," Staff Papers 13554, University of Minnesota, Department of Applied Economics.
    11. Dale W. Jorgenson & Lawrence J. Lau, 1975. "The Structure of Consumer Preferences," NBER Chapters, in: Annals of Economic and Social Measurement, Volume 4, number 1, pages 49-101, National Bureau of Economic Research, Inc.
    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. Krishna Paudel & Christopher McIntosh, 2005. "Numeraire choice in agricultural supply analysis," Applied Economics, Taylor & Francis Journals, vol. 37(11), pages 1209-1214.
    2. 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(1), pages 1-16, January.
    3. Shumway, C. Richard, 1995. "Recent Duality Contributions In Production Economics," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 20(1), pages 1-17, July.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ornelas, Fermin S. & Shumway, C. Richard, 1993. "Supply Response And Impact Of Government-Supported Crops On The Texas Vegetable Industry," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 22(1), pages 1-10, April.
    2. Aradhyula, Satheesh Venkata, 1989. "Policy structure, output supply and input demand for US crops," ISU General Staff Papers 198901010800009909, Iowa State University, Department of Economics.
    3. Poison, Rudolph A. & Shumway, C. Richard, 1990. "Structure of South Central Agricultural Production," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 22(2), pages 153-163, December.
    4. Norton, Nancy Anders, 1986. "The Effect Of Acreage Reduction Programs On The Production Of Corn, Wheat, And Cotton: A Profit Function Approach," 1986 Annual Meeting, July 27-30, Reno, Nevada 278421, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. Tsai, Grace Yueh-Hsiang, 1989. "A dynamic model of the U.S. cotton market with rational expectations," ISU General Staff Papers 1989010108000012168, Iowa State University, Department of Economics.
    6. Chen, Dean T. & Ito, Shoichi, 1989. "Modeling Supply Response for Rice Program Analysis: An Application of Implicit Revenue Switching Functions," Staff Reports 257924, Texas A&M University, Agricultural and Food Policy Center.
    7. Shumway, C. Richard & Villezca-Becerra, Pedro A., 1995. "Disaggregated estimates of output supply and input demand elasticities," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 10(1), pages 89-101.
    8. Villezca-Becerra, Pedro A. & Shumway, C. Richard, 1992. "Multiple-Output Production Modeled With Three Functional Forms," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 17(1), pages 1-16, July.
    9. Grant, Warren R. & Beach, John & Lin, William, 1984. "Factors Affecting Supply, Demand, And Prices Of U.S. Rice," Staff Reports 277629, United States Department of Agriculture, Economic Research Service.
    10. Chembezi, Duncan M. & Womack, Abner W., 1992. "Regional Acreage Response For U.S. Corn And Wheat: The Effects Of Government Programs," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 24(1), pages 1-12, July.
    11. Shumway, C. Richard & Davis, George C., 2001. "Does consistent aggregation really matter?," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 45(2), pages 1-34.
    12. Bailey, Kenneth W. & Womack, Abner W., 1985. "Wheat Acreage Response: A Regional Econometric Investigation," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 17(2), pages 1-10, December.
    13. Haile, M.G. & Kalkuhl, M., 2014. "Volatility in the international food markets: implications for global agricultural supply and for market and price policy," Proceedings “Schriften der Gesellschaft für Wirtschafts- und Sozialwissenschaften des Landbaues e.V.”, German Association of Agricultural Economists (GEWISOLA), vol. 49, March.
    14. Bitros, G.C. & Panas, E.J., 1999. "Another Look at the Inflation-Productivity Trade-Off," Athens University of Economics and Business 114, Athens University of Economics and Business, Department of International and European Economic Studies.
    15. Kanlaya J. Barr & Bruce A. Babcock & Miguel A. Carriquiry & Andre M. Nassar & Leila Harfuch, 2011. "Agricultural Land Elasticities in the United States and Brazil," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 33(3), pages 449-462.
    16. Shumway, C. Richard, 1993. "Production economics: Worthwhile investment?," Agricultural Economics, Blackwell, vol. 9(2), pages 89-108, August.
    17. Just, Richard E., 1992. "Discovering Microeconomic Relationships in Agriculture," 1992 Conference (36th), February 10-13, 1992, Canberra, Australia 146530, Australian Agricultural and Resource Economics Society.
    18. Umanath Malaiarasan & R. Paramasivam & K. Thomas Felix & S. J. Balaji, 2020. "Simultaneous equation model for Indian sugar sector," Journal of Social and Economic Development, Springer;Institute for Social and Economic Change, vol. 22(1), pages 113-141, June.
    19. Evans, R. Samuel & Kenyon, David E., 1974. "Regional Soybean Acreage Response Analysis and Projections for 1974," Miscellaneous Publications 327162, United States Department of Agriculture, Economic Research Service.
    20. Hilmer, Christiana E. & Holt, Matthew T., 2005. "Estimating Indirect Production Functions with a More General Specification: An Application of the Lewbel Model," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 37(3), pages 1-16, December.

    More about this item

    Statistics

    Access and download statistics

    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:cup:jagaec:v:25:y:1993:i:02:p:106-118_01. See general information about how to correct material in RePEc.

    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 bibliographic 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.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Kirk Stebbing (email available below). General contact details of provider: https://www.cambridge.org/aae .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.