Parametric or Nonparametric Approaches to the Estimation of Marginal Cost in Dairy Production? A Comparison of Estimation Results

Christine Wieck and Thomas Heckelei

No 9829, 2007 Annual Meeting, July 29-August 1, 2007, Portland, Oregon from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: This paper compares various nonparametric models for the estimation of farm specific marginal costs function in the dairy sector. Specifically, locally weighted regression approaches using theory-consistent cost function frameworks as polynomials in the nonparametric approach are applied. A comparison of average marginal cost levels as well as marginal cost distributions across farms illustrates the different approaches.

Keywords: Livestock; Production/Industries (search for similar items in EconPapers)
Pages: 18
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea07:9829

DOI: 10.22004/ag.econ.9829

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