VALUATION OF HOUSEHOLD PRODUCTION AT MARKET PRICES AND ESTIMATION OF PRODUCTION FUNCTIONS

John Fitzgerald (), Matthew S. Swenson and John H. Wicks

Review of Income and Wealth, 1996, vol. 42, issue 2, 165-180

Abstract: This paper estimates household production functions directly, considers their characteristics, and compares them with previous indirectly estimated functions. Interviews with 135 Missoula, Montana area married couple households provided the data. The results suggest that endogeneity and a previous lack of output and capital data which led to the use of the indirect methodology are not insurmountable problems. The results tend to confirm the feasibility of directly measuring household outputs since the production function results are reasonable. Directly estimated household production functions offer the possibilities for estimation of short‐term household output changes and testing hypotheses about households' economic behavior.

Date: 1996
References: Add references at CitEc
Citations: View citations in EconPapers (10)

Downloads: (external link)
https://doi.org/10.1111/j.1475-4991.1996.tb00164.x

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:revinw:v:42:y:1996:i:2:p:165-180

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0034-6586

Access Statistics for this article

Review of Income and Wealth is currently edited by Conchita D'Ambrosio and Robert J. Hill

More articles in Review of Income and Wealth from International Association for Research in Income and Wealth Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().