Measuring technical efficiency under stochastic production: an application to dairy production

John M. Antle

No 291714, WAEA/ WFEA Conference Archive (1929-1995) from Western Agricultural Economics Association

Abstract: This paper shows that the output distribution moments can be used to measure technical efficiency under stochastic production and that the moments can be ordered according to the derivatives of the utility function for a broad class of utility functions. Applying the moment-based approach to California dairy production, it was found that scheduled veterinary services and management quality both affect technical efficiency, with management increasing in importance relative to veterinary services as risk aversion increases. Emergency veterinary services were found not to have a significant effect on technical efficiency.

Keywords: Productivity Analysis; Livestock Production/Industries (search for similar items in EconPapers)
Pages: 15
Date: 1984-07-13
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Persistent link: https://EconPapers.repec.org/RePEc:ags:waeaar:291714

DOI: 10.22004/ag.econ.291714

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