楼主: 经济波动096
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[英文文献] Does Duality Theory Hold in Practice? A Monte Carlo Analysis for U.S. Agric... [推广有奖]

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经济波动096 发表于 2006-3-9 08:50:58 |AI写论文

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英文文献:Does Duality Theory Hold in Practice? A Monte Carlo Analysis for U.S. Agriculture-对偶理论在实践中成立吗?美国农业的蒙特卡洛分析
英文文献作者:Rosas, Francisco,Lence, Sergio H.
英文文献摘要:
The Neoclassical theory of production establishes a dual relationship between the profit value function of a competitive firm and its underlying production technology. This relationship, usually referred to as the duality theory, has been widely used in empirical work to estimate production parameters without the requirement of explicitly specifying the technology. We analyze the ability of this approach to recover the underlying production parameters and its effects on estimated elasticities and scale economies measurements, when data available for estimation features typical realistic problems. We design alternative scenarios and compute the data generating process by Monte Carlo simulations, so as to know the true technology parameters as well as to calibrate the dataset to yield realistic magnitudes of noise. This noise introduced in the estimation by construction prevents duality theory from holding exactly. Hence, the true production parameters may not be recovered with enough precision, and the estimated elasticities or scale economies measurements may be more inaccurate than expected. We compare the estimated production parameters with the true (and known) parameters by means of the identities between the Hessians of the production and profit functions.

新古典生产理论在竞争企业的利润价值函数和其潜在的生产技术之间建立了一种二元关系。这种关系通常被称为对偶理论,在经验工作中被广泛用于估计生产参数,而不需要明确规定工艺。当可供估计的数据具有典型的现实问题时,我们分析了这种方法恢复潜在生产参数的能力及其对估计弹性和规模经济测量的影响。我们设计备选方案,并通过蒙特卡洛模拟计算数据生成过程,以了解真实的技术参数,并校准数据集,以产生真实的噪声大小。这种噪声引入估计的构造,防止对偶理论持有准确。因此,真实的生产参数可能无法以足够的精度恢复,而估计的弹性或规模经济指标可能比预期的更不准确。利用生产函数和利润函数之间的恒等式,将估计的生产参数与真实的(已知的)参数进行比较。
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