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Multidimensional Evaluation of Flexible Functional Forms for Production Analysis

Published online by Cambridge University Press:  28 April 2015

Fermin S. Ornelas  and
C. Richard Shumway
C. Richard Shumway
Affiliation:
Texas A&M
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Abstract

Several common flexible functional forms are evaluated for Texas agricultural production utilizing three procedures. Nested hypothesis tests indicate that the normalized quadratic is the marginally-preferred functional form followed by the generalized Leontief. Predictive accuracy results are ambiguous between the generalized Leontief and the normalized quadratic. Statistical performance favors the normalized quadratic. These two functional forms consistently dominate the translog.

Keywords

Box-Coxfunctional formpredictionproductionstatistical performance

Information

Type
Articles
Information
Journal of Agricultural and Applied Economics , Volume 25 , Issue 2 , December 1993 , pp. 106 - 118
Copyright
Copyright © Southern Agricultural Economics Association 1993

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