A Semi-Parametric Analysis of Technology, with an Application to U.S. Dairy Farms

Gustavos de los Campos, Jeremy Foltz, Jean-Paul Chavas () and Daniel Gianola

No 92251, Staff Papers from University of Wisconsin-Madison, Department of Agricultural and Applied Economics

Abstract: This article proposes a semi-parametric stochastic frontier model (SPSF) in which components of the technology and of technical efficiency are represented using semi-parametric methods and estimated in a Bayesian framework. The approach is illustrated in an application to US farm data. The analysis shows important scale economies for small and medium herds and constant return to scale for larger herds. With the exception of labor, estimates of marginal products were close to the value expected under profit maximization. Finally, the results suggest important opportunities to increase productivity through reductions in technical inefficiencies.

Keywords: Productivity Analysis; Research and Development/Tech Change/Emerging Technologies; Research Methods/Statistical Methods (search for similar items in EconPapers)
Pages: 42
Date: 2010-03
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Working Paper: A Semi-parametric Analysis of Technology, with an Application to U.S. Dairy Farms (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:wisagr:92251

DOI: 10.22004/ag.econ.92251

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