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EXPLORING ALTERNATIVES FOR ESTIMATING SYSTEMS OF EQUATIONS WITH MULTIPLE CENSORED VARIABLES: FARM OUTPUT SUPPLY AND INPUT DEMAND
Carlos Arias and
1999 Annual meeting, August 8-11, Nashville, TN from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
This paper explores two alternatives for estimating systems of equations with multiple censored variables: Maximum Simulated Likelihood and a two-step technique that seems to be well suited for large samples. The empirical part of the paper estimates a system of cost, cost shares and revenue shares equations of Italian farms using both approaches.
Keywords: Research Methods/ Statistical Methods (search for similar items in EconPapers)
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