Multidimensional Evaluation of Flexible Functional Forms for Production Analysis

Fermin S. Ornelas and C. Shumway

Journal of Agricultural and Applied Economics, 1993, vol. 25, issue 2, 106-118

Abstract: Several common flexible functional forms are evaluated for Texas agricultural production utilizing three procedures. Nested hypothesis tests indicate that the normalized quadratic is the marginally-preferred functional form followed by the generalized Leontief. Predictive accuracy results are ambiguous between the generalized Leontief and the normalized quadratic. Statistical performance favors the normalized quadratic. These two functional forms consistently dominate the translog.

Date: 1993
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Journal Article: MULTIDIMENSIONAL EVALUATION OF FLEXIBLE FUNCTIONAL FORMS FOR PRODUCTION ANALYSIS (1993)
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Persistent link: https://EconPapers.repec.org/RePEc:cup:jagaec:v:25:y:1993:i:02:p:106-118_01

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