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...

This research examines selected empirical properties of duality relationships. Monte Carlo experiments indicate that Hessian matrices estimated from the normalised unrestricted profit, restricted profit and production functions yield conflicting results in the presence of measurement error and...

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...

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....

The lack of transparency in the pricing and operational activities of state trading enterprises (STEs) has caused WTO members to express concern that certain countries’ STEs might circumvent Uruguay Round commitments on export subsidies, domestic support, or market access. The purpose of this...

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...

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....

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...

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...