000225711 001__ 225711
000225711 005__ 20180123002641.0
000225711 037__ $$a1570-2016-133595
000225711 041__ $$aen_US
000225711 245__ $$aFORMULATING AND ESTIMATING DYNAMIC STOCHASTIC PRODUCTION MODELS
000225711 260__ $$c1983-10
000225711 269__ $$a1983-10
000225711 300__ $$a35
000225711 336__ $$aWorking or Discussion Paper
000225711 490__ $$a83-8
000225711 520__ $$aBoth the dynamic and stochastic aspects of economic life are increasingly
being recognized and incorporated in current analytics. In this paper we
examine these aspects in production models, with the aim of achieving the
following goals: (i) Unifying the various existing efforts into one more
general analytic framework; (ii) Evaluating the tractability of the two
dominant functional forms in the presence of dynamics and uncertainty;
(iii) Exhaustively analyzing the estimation issues of the general form in
stochastic multiperiod and multistage problems with observable and
unobservable intermediate outputs; (iv) Determining the conditions under
which production function and factor demand estimation is separable, i.e.,
when knowledge of the production process is not required for efficient factor
demand estimation, and vice-versa; (v) Examining the existence of analytic
factor demands in the general dynamic stochastic model; and finally,
(vi) Providing alternative conditions that lead to an assortment of
tractable, estimable models for empirical use.
We are encouraged by the conclusion that, subject to avoiding certain
pitfalls, the general production model can be extended to include both
multiple periods and uncertainty, with increased empirical relevance.
000225711 542__ $$fLicense granted by Deanna Kanne (kanne053@umn.edu) on 2015-12-04T15:51:19Z (GMT):

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000225711 650__ $$aProduction Economics
000225711 700__ $$aAntle, John M.
000225711 700__ $$aHavenner, Arthur
000225711 8564_ $$s1144837$$uhttp://ageconsearch.umn.edu/record/225711/files/agecon-ucdavis-83-8.pdf
000225711 887__ $$ahttp://purl.umn.edu/225711
000225711 909CO $$ooai:ageconsearch.umn.edu:225711$$pGLOBAL_SET
000225711 912__ $$nSubmitted by Deanna Kanne (kanne053@umn.edu) on 2015-12-04T15:53:05Z
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  Previous issue date: 1983-10
000225711 982__ $$gUniversity of California, Davis>Department of Agricultural and Resource Economics>Working Papers
000225711 980__ $$a1570