Parametric or Nonparametric Approaches to the Estimation of Marginal Cost in Dairy Production? A Comparison of Estimation Results

This paper compares various nonparametric models for the estimation of farm specific marginal costs function in the dairy sector. Specifically, locally weighted regression approaches using theory-consistent cost function frameworks as polynomials in the nonparametric approach are applied. A comparison of average marginal cost levels as well as marginal cost distributions across farms illustrates the different approaches.


Issue Date:
2007
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/9829
Total Pages:
18
JEL Codes:
C33; Q12; Q18
Series Statement:
Selected paper 174909




 Record created 2017-04-01, last modified 2017-08-23

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