Formulation and estimation of stochastic frontier production function models |
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| Authors: | Dennis Aigner C.A.Knox Lovell Peter Schmidt |
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| Affiliation: | University of Wisconsin, Madison, WI 53706, U.S.A.;University of Southern California, Los Angeles, CA 90007, U.S.A.;University of North Carolina, Chapel Hill, NC 27514, U.S.A.;University of North Carolina, Chapel Hill, NC 27514, U.S.A. |
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| Abstract: | Previous studies of the so-called frontier production function have not utilized an adequate characterization of the disturbance term for such a model. In this paper we provide an appropriate specification, by defining the disturbance term as the sum of symmetric normal and (negative) half-normal random variables. Various aspects of maximum-likelihood estimation for the coefficients of a production function with an additive disturbance term of this sort are then considered. |
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