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Characterizing Uncertain Outcomes with the Restricted HT Transformation

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  • Moffitt, L. Joe

Abstract

Restrictions on the hyperbolic trigonometric (HT) transformation are imposed to guarantee that a probability density function is obtained from maximum likelihood estimation. Performance of the restricted HT transformation using data generated from normal, beta, gamma, logistic, log-normal, Pareto, Weibull, order statistic, and bimodal populations is investigated via sampling experiments. Results suggest that the restricted HT transformation is sufficiently flexible to compete with the actual population distributions in most cases. Application of the restricted HT transformation is illustrated by characterizing uncertain net income per acre for community-supported agriculture farms in the northeastern United States.

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  • Moffitt, L. Joe, 2002. "Characterizing Uncertain Outcomes with the Restricted HT Transformation," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 34(3), pages 417-429, December.
    • Handle: RePEc:cup:jagaec:v:34:y:2002:i:03:p:417-429_00
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    1. Carreira, Rita I. & Stoecker, Arthur L. & Epplin, Francis M. & Hattey, Jeffory A. & Kizer, Michael A., 2006. "Subsurface Drip Irrigation Versus Center-Pivot Sprinkler for Applying Swine Effluent to Corn," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 38(3), pages 1-14, December.

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