Pseudo Data: A Tool for Teaching Production Economics

Thomas Hertel and Lance McKinzie

No 278926, 1984 Annual Meeting, August 5-8, Ithaca, New York from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: It is argued that a "laboratory" data set would greatly facilitate the teaching of graduate-level production economics. Development of a process model and an optimal experimental design for generating pseudo data are outlined. A translog, multiproduct profit function is estimated and the resulting net and gross elasticities are discussed.

Keywords: Production Economics; Teaching/Communication/Extension/Profession (search for similar items in EconPapers)
Pages: 15
Date: 1984-08
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea84:278926

DOI: 10.22004/ag.econ.278926

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