A micro-economic model of a short run cost function with unobserved heterogeneity /

Unobserved plant level heterogeneity and discrete production processes can produce problems for estimation. A structural model of discrete production decisions by heterogeneous plants is constructed and, as a case study, estimated for the U.S. Portland cement industry. A new estimator is proposed to...

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Bibliographic Details
Main Author: Prentice, David
Format: Book
Published: Bundoora, Vic. : La Trobe University. School of Business. 1998
Series:Discussion paper ; no. A 98.01
Subjects:

MARC

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100 1 |a Prentice, David  |9 4120 
245 1 2 |a A micro-economic model of a short run cost function with unobserved heterogeneity /  |c David Prentice. 
260 |a Bundoora, Vic. :  |b La Trobe University. School of Business.  |c 1998 
300 |a 33 p. :  |b il. 
490 0 |a Discussion paper ;  |v no. A 98.01  |x 1441-3213 
504 |a Incluye bibliografía. 
520 3 |a Unobserved plant level heterogeneity and discrete production processes can produce problems for estimation. A structural model of discrete production decisions by heterogeneous plants is constructed and, as a case study, estimated for the U.S. Portland cement industry. A new estimator is proposed to handle the discrete production process – for which the ordered probit is a special case. Data on firm survival and exit are used to adjust all input requirement coefficients for unobserved heterogeneity. The structural model is successfully estimated. Differences between many estimated coefficients and independent estimates from external sources are statistically insignificant. 
650 4 |a MICROECONOMIA  |9 74 
650 |a FUNCION DE COSTOS  
650 |a FUNCIONES DE LA PRODUCCION  
650 |a INDUSTRIA DEL CEMENTO  
650 |a MODELOS ECONOMETRICOS 
653 4 |a ANALISIS MICROECONOMICO 
653 |a TEORIA DE LOS COSTOS 
942 |c DOCU  |j F 338.51 P 18410  |2 ddc