Using a valuation model, I find that uncertainty about firms varies across the levels of (1) prior information available about the firms, and (2) their intangible assets usage. I find the magnitudes of the coefficients on earnings and BVE for firms that employ intangible assets intensively are...

Economic theory provides little guidance for selecting a numeraire in estimating dual function profit functions. In this study, we examine the choice of numeraire price (equation) for profit function models of Iowa agriculture. The choice of numeraire is evaluated by forecasting accuracy and...