Profit Function Approximations and Duality Applications to Agriculture
通过蒙特卡洛模拟比较了不同灵活函数形式对利润函数中替代弹性和价格弹性的近似效果,发现各形式排名相近,但产出价格弹性近似效果较差。
Abstract Monte Carlo simulations of profit functions indicate that flexible functional forms may be ranked nearly the same with respect to Allen‐Uzawa partial substitution elasticities or price and fixed factor elasticities. Flexible functional form approximations of output price elasticities are generally worse than approximations of input price or fixed factor elasticities. Minflex Laurent functional forms did not appear to approximate underlying elasticities any better than did their translog and generalized Leontief counterparts.