EXAMINATION OF ALTERNATIVE HETEROSCEDASTIC ERROR STRUCTURES USING EXPERIMENTAL DATA

James W. Mjelde, Oral Capps and Ronald C. Griffin

Journal of Agricultural and Applied Economics, 1995, vol. 27, issue 01, 15

Abstract: Impacts of alternative specifications for heteroscedastic error structures are examined by estimating various production functions for corn in Central Texas. Production- and profit- maximizing levels of input and the shape of the profit equation obtained from models not corrected for heteroscedasticity differed from those obtained from models corroded for heteroscedasticaity. Using the profit-maximizing input levels for each production function gave essentially the same estimated yield and profit, regardless of the specification for heteroscedasticity employed. Differences of up to one-quarter to one-third are noted, however, in the amount of profit-maximizing levels of input used, depending on the heteroscedasticity correction.

Keywords: Research; Methods/Statistical; Methods (search for similar items in EconPapers)
Date: 1995
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https://ageconsearch.umn.edu/record/15329/files/27010197.pdf (application/pdf)

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Journal Article: Examination of Alternative Heteroscedastic Error Structures Using Experimental Data (1995)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:joaaec:15329

DOI: 10.22004/ag.econ.15329

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