NUMERAIRE CHOICE IN AGRICULTURAL SUPPLY ANALYSIS

Krishna Paudel and Christopher McIntosh

No 20962, 1998 Annual meeting, August 2-5, Salt Lake City, UT from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Economic theory provides little guidance for selecting a numeraire in estimating dual function profit functions. In this study, we examine the choice of numeraire price (equation) for profit function models of Iowa agriculture. The choice of numeraire is evaluated by forecasting accuracy and with a non-nested specification test.

Keywords: Research; Methods/; Statistical; Methods (search for similar items in EconPapers)
Pages: 14
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea98:20962

DOI: 10.22004/ag.econ.20962

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