Reprint of: Formulation and estimation of stochastic frontier production function models

Dennis Aigner, C. Lovell and Peter Schmidt

Journal of Econometrics, 2023, vol. 234, issue S, 15-24

Abstract: Previous studies of the so-called frontier production function have not utilized an adequate characterization of the disturbance term for such a model. In this paper we provide an appropriate specification, by defining the disturbance term as the sum of symmetric normal and (negative) half-normal random variables. Various aspects of maximum-likelihood estimation for the coefficients of a production function with an additive disturbance term of this sort are then considered.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:econom:v:234:y:2023:i:s:p:15-24

DOI: 10.1016/j.jeconom.2023.01.023

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