Finite sampling properties of information theoretic estimators of the simultaneous equations model, including maximum empirical likelihood, maximum empirical exponential likelihood, and maximum log Euclidean likelihood, are examined in the presence of selected forms of heteroskedasticity....

This study makes an empirical comparison of estimators for censored equations using Monte Carlo simulation. The underlying data generation process is rarely known in practice. From the viewpoint of regression, both ordinary censoring rule and sample selection rule are logical rules of censoring....

A generalized maximum entropy estimator is developed for the linear simultaneous equations systems model. We provide results on large and small sample properties of the estimator. Empirical results illustrate efficiency advantages of the generalized maximum entropy estimator proposed in this...

Information theoretic estimators are specified for a system of linear simultaneous equations, including maximum empirical likelihood, maximum empirical exponential likelihood, and maximum log Euclidean likelihood. Monte Carlo experiments are used to compare finite sample performance of these...

Using Kansas Farm data from 1973 to 1998, curvature restrictions are imposed on a translog cost function. Using uninformative priors with indicator functions representing distribution and inequality constraints, a Markov Chain Monte Carlo Simulation method is used to estimate parameters and...

This paper uses data collected in the summer and fall of 2010 from a national, web-based survey of 1002 households to initiate the process of examining consumer inferences and valuations of food products making "sustainably produced” claims. A Best-Worst scaling framework was implemented to...

We develop a conceptual bioeconomic model of floriculture production, wherein optimal decision rules depend on an intertemporal economic objective to maximize profits subject to economic and biological processes. The necessary conditions highlight intertemporal tradeoffs between aesthetic...

We investigate how to theoretically and empirically measure pre-committed quantities through price formation utilizing translating in the consumer distance function. The translated consumer distance function is defined as a dual to the translated utility, indirect utility, and expenditure...

In this paper we illustrate the use of alternative truncated regression estimators for the general linear model. These include variations of maximum likelihood, Bayesian, and maximum entropy estimators in which the error distributions are doubly truncated. To evaluate the performance of the...

An adaptive estimator is proposed to optimally estimate unknown truncation points of the error support space for the general linear model. The adaptive estimator is specified analytically to minimize a risk function based on the squared error loss measure. It is then empirically applied to a...