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Please use this identifier to cite or link to this item: http://purl.umn.edu/30959

Title: FUNCTIONAL FORM AND U.S. AGRICULTURAL PRODUCTION ELASTICITIES
Authors: Shumway, C. Richard
Lim, Hongil
Issue Date: 1993-12
Abstract: Because so much agricultural policy analysis utilizes estimates of supply and demand elasticities, it is crucial to obtain the most reliable estimates possible. Where reliability cannot be adequately assessed, the sensitivity of elasticities to equally plausible a priori specifications should at least be ascertained. In this article, the sensitivity of U.S. output supply and input demand elasticities to choice of functional form. Considerable sensitivity is found to choice of functional form. Although most frequently used, the translog is generally the outlier and is the least preferred among the alternatives.
URI: http://purl.umn.edu/30959
Institution/Association: Journal of Agricultural and Resource Economics>Volume 18, Number 02, December 1993
Total Pages: 11
Language: English
From Page: 266
To Page: 276
Collections:Volume 18, Number 02, December 1993

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