SmallSample Evaluation of MeanVariance Production Function Estimators Academic Article uri icon

abstract

  • Production functions have been shown useful for characterizing input effects on both the mean and variability of yield. Monte carlo experiments are used here to investigate small-sample properties of selected mean-variance production function estimators. Estimation efficiency in the mean is found to improve with iteration on the mean and variance components. Although efficiency in the variance is greatest at the first stage, bias in the variance diminishes through at least the second stage. These effects are influenced by the degree and sign of heteroscedasticity and by sample size. 1986 American Agricultural Economics Association.

published proceedings

  • American Journal of Agricultural Economics

author list (cited authors)

  • Buccola, S. T., & McCarl, B. A.

citation count

  • 9

complete list of authors

  • Buccola, Steven T||McCarl, Bruce A

publication date

  • August 1986

publisher