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What is Estimating Production Functions and Risk about?
This document discusses production function estimation and related risk considerations. It notes that most empirical and theoretical analyses assume inputs increase risk, but this is overly restrictive. The authors propose a more general stochastic specification that does not impose these restrictions a priori. They demonstrate the proposed approach using nitrogen response data and common log-linear production functions. While nitrogen increases risk, the marginal variance contribution is smaller than estim
- Author
- Eka adi Saputra
- Language
- EN