Another Look at the American Electrical Utility Data
Christian Ritter and
Leopold Simar ()
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Christian Ritter: CORE and Institut de Statistique, Université catholique de Louvain, B-1348 Louvain-la-Neuve, Belgium
No 1994007, CORE Discussion Papers from Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)
The American electric utility data, which are frequently analyzed in the context of frontier models, can be explained by a linear model without inefficiencies. the observed maximum likelihood for this linear model is very mildly smaller than the maximum likelihood for more flexible stochastic frontier models and the log-likelihood-ratio statistic for an approxImate [chi. exp2] test of the simple least squares model against normal exponential and normal-gamma stochastic frontier models is far from significant.
Keywords: Exploratory data analysis; ordinary least squares; normal-gamma composed errors; maximum likelihood (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:cor:louvco:1994007
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