Estimation of Profit Functions When Profit Is Not Maximum
研究存在技术或配置无效率时利润函数的推导与含义，发现无效率会影响投入需求、产出供给等，并开发了截面与面板数据的估计方法，用60个三文鱼养殖场数据演示。
Abstract This paper deals with derivation and implications of profit functions when profit is not maximum due to the presence of either technical inefficiency or allocative inefficiency, or both. We show that input demand and output supply, elasticities, and returns to scale are, in general, affected by these inefficiencies. We also show that the overall profit efficiency is not necessarily the product of technical and allocative efficiencies, meaning that technical and allocative inefficiencies are not necessarily independent. Estimation techniques are developed for both cross‐sectional and panel data models. Working of the model is illustrated using a panel of 60 salmon farms.