TEXAS FIELD CROPS: ESTIMATION WITH CURVATURE

Some implications of theory are easily maintained in econometric estimation, but computational costs of maintaining curvature properties (sufficient for existence of an optimal solution) have often proved prohibitive. They also have been violated frequently by unrestricted econometric estimates. A computationally manageable procedure for maintaining and testing curvature is used here to obtain estimates of product supplies and input demands for Texas field crops consistent with the theory of the competitive industry. The curvature properties are tested along with several technology restrictions.


Issue Date:
1990-07
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/32502
Published in:
Western Journal of Agricultural Economics, Volume 15, Number 1
Page range:
45-54
Total Pages:
10




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

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