Bayesian Inferences on Fourier Flexible Functional Form in Agricultural Production

Allen Featherstone and Hanas A. Cader

No 19228, 2005 Annual meeting, July 24-27, Providence, RI from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Flexible functional forms are used to examine the characteristics of production technologies. The Fourier functional form is capable of approximating any function globally, with the specified expansion. Unfortunately the exact form of the expansion is not known. The regularity conditions are likely to be violated without the exact form of expansion. In this paper we use a Bayesian approach to impose regularity conditions locally on a Fourier flexible functional from using agricultural production data. Monotonicity, concavity, convexity and elasticities are compared.

Keywords: Research; Methods/Statistical; Methods (search for similar items in EconPapers)
Pages: 25
Date: 2005
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea05:19228

DOI: 10.22004/ag.econ.19228

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