Estimation of moments and production decisions under uncertainty
Article Abstract:
A study aimed at analysing the decisions of firms under uncertainty revealed that production responses suggest risk aversion and are consistent with behavior under decreasing absolute risk aversion. The study employed a nonparametric estimation technique to calculate the first four moments of the unknown price distribution and the duality theory to show an empirical framework for analysing the decisions of firms under uncertainty.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1997
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Efficient estimation of the costs of rent controls: a comment
Article Abstract:
An analysis of previous research on estimation of rent control costs is presented. Earlier findings have established a method for evaluating a hedonic price equation to account for censoring due to rent control in the rental housing field. The analysis focuses on the consistency of the ordinary least squares estimates. It is shown that the rent control law exhibits an impact on estimation procedures.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1993
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Demand estimation with expenditure measurement errors on the left and right hand side
Article Abstract:
A Generalized Method of Moments technique for estimating standard demand specifications in the presence of measurement errors Vh in total expenditures and xh is presented. The technique is used to estimate Engel curves for fuel with data from the UK Family Expenditure Survey. It can be applied to translog or higher order log polynomial models of factor demands in a production sense.
Publication Name: Review of Economics and Statistics
Subject: Mathematics
ISSN: 0034-6535
Year: 1996
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