Flexible panel data models for risky production technologies with an application to salmon aquaculture
用更灵活的面板数据模型估计生产风险，发现风险厌恶的生产者会同时考虑产出的均值和方差，因此需分别估计技术变化对确定性和风险部分的影响。
Primal panel data models of production risk are estimated, using more flexible specifications than has previously been the practice. Production risk has important implications for the analysis of technology adoption and technical efficiency, since risk averse producers will take into account both the mean and variance of output when ranking alternative technologies. Hence, one should estimate technical change separately for the deterministic part and the risk part of thetechnology.