Cobb–Douglas production function.
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Using Monte Carlo Simulation Approach, Estimation of Stochastic Frontier Production Function and Test of Parameters under Restricted Alternatives
Abstract: The stochastic frontier production function can be used to estimate the technical efficiencies among the firms when all the firms are not technically efficient. In most of the economic problems, prior information about the parameters is known in advance. That is, the sign of the parameters are known, which is also true for the Stochastic Frontier Production. We notice that the existing techniques of estimating the Stochastic Frontier Production Function …
Published in Research & Reviews : Journal of Statistics · Vol. 8, Issue 1, 2019 · pp. 26–31 Read article