Short-run returns to scale, farm-size, and economic efficiency

Article Abstract:

The profitability of 89 Utah dairy farms is studied in relation to the effects of allocative, technical, farm-size and scale inefficiencies. The effects on profitability of the withdrawal or lowering of price support and raising of input prices are described. The conditions required for comparing farms' profitability between size classifications of large, medium and small are also described. Medium and large-sized farms are found to be the most profitable with the best survival potential should input prices rise or the support price be decreased.

Dairy farms, Economic aspects, Farms, Dairy farming, Utah

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Modeling earnings measurement error: a multiple imputation approach

Article Abstract:

Data from the Panel Study of Income Dynamics Validation Study are used to model earnings measurement error. Consistent earnings equations under non-classical earnings measurement error in the Panel Study of Income Dynamics were then estimated using Rubin's (1978) multiple imputation techniques. Results showed the significance of correcting for measurement error in earnings and related data, particularly in the event of recessions.

Models, Usage, Error analysis (Mathematics), Error analysis, Multiple imputation (Statistics)

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