JOINT RISK PREFERENCE-TECHNOLOGY ESTIMATION WITH A PRIMAL SYSTEM

被引：80

作者：

LOVE, HA

BUCCOLA, ST

机构：

[1] Department of Agricultural and Resource Economics, Oregon State University

来源：

AMERICAN JOURNAL OF AGRICULTURAL ECONOMICS | 1991年 / 73卷 / 03期

关键词：

HETEROSKEDASTICITY; INPUT DEMANDS; PRODUCTION FUNCTION; RISK AVERSION; YIELDS;

D O I：

10.2307/1242829

中图分类号：

F3 [农业经济];

学科分类号：

0202 ; 020205 ; 1203 ;

摘要：

Applied studies of the firm in a risky environment have concentrated either on the firm's technology or on its risk preferences. These models result in generally inconsistent and inefficient parameter estimates. A primal model is proposed which allows a firm's preferences and technology to be estimated jointly in the presence of risk. The model is applied to Iowa corn production and estiamted technology parameters are compared with those from other approaches. Modest risk aversion leads to inelastic (even backbending) per-acre supplies and input demands. Yield heteroskedasticity in inputs leads to supply heteroskedasticity in prices, especially for risk-neutral firms.

引用

页码：765 / 774

页数：10

共 29 条

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