Choosing an Empirical Production Function: Theory, Nonnested Hypotheses, Costs of Specifications
| dc.creator | Hall, Harry H. | |
| dc.date | 2017-04-01T19:43:18Z | |
| dc.date.accessioned | 2026-07-09T04:15:18Z | |
| dc.description | This paper considers the specification of a production function, using crop-yield response to agricultural lime as an example. The paper first reviews neoclassical production theory, observing that this theory specifies neither the form nor the arguments of a production function. Several functions that are consistent with the theory are then evaluated by goodness-of-fit tests, by nonnested-hypothesis tests, and by "costs of misspecification." Neither goodness-of-fit tests nor nonnested-hypothesis tests provide a clear choice among the candidate functions; costs of misspecification provide some choice. | |
| dc.identifier | doi:10.22004/ag.econ.31977 | |
| dc.identifier | https://ageconsearch.umn.edu/record/31977/files/rr980059.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/31977 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/547146 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/31977 | |
| dc.title | Choosing an Empirical Production Function: Theory, Nonnested Hypotheses, Costs of Specifications | |
| dc.type | Text |