Using Time-Series and Cross-Section Data to Estimate a Production Function with Positive and Negative Marginal Risks
提出了两个包含时间和企业误差成分且扰动项异方差的生产函数模型，允许产出方差随投入增加而增减。应用于澳大利亚东部牧区，发现劳动力、水和围栏可能降低羊毛产量方差，而羊、建筑和土地则增加方差。
Abstract Two production-function models with error components for time and firms and a heteroscedastic disturbance are proposed. Unlike previous models, these two permit the variance of output to increase or decrease as one of the inputs is increased. When the models and some suggested estimators are applied to the pastoral zone of eastern Australia, the results indicate that labor, water, and possibly fencing, are likely to reduce the variance of wool production; and that sheep, and buildings and land, are likely to increase the variance.