Economies of size and operating efficiency of livestock markets; a frontier function approach
Extract: A cost curve for livestock auction markets was estimated using a frontier function estimator. This estimator has the advantages of consistency and asymptotic efficiency (for certain disturbance specifications). The one-sided residuals satisfy theoretical requirements for cost curves and all...
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Published in | Journal of the Northeastern Agricultural Economics Council Vol. 9; no. 1; pp. 37 - 40 |
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Main Authors | , |
Format | Journal Article |
Language | English |
Published |
Newark, DE
Northeastern Agricultural and Resource Economics Association
01.04.1980
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Online Access | Get full text |
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Summary: | Extract: A cost curve for livestock auction markets was estimated using a frontier function estimator. This estimator has the advantages of consistency and asymptotic efficiency (for certain disturbance specifications). The one-sided residuals satisfy theoretical requirements for cost curves and allow estimates of operational efficiency. Little consolidation is predicted for the industry because the estimated cost of technical inefficiency is small compared to distance related costs (e.g., transport and shrink) |
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Bibliography: | 8115277 E70 |
ISSN: | 0163-5484 1068-2805 2398-4635 |
DOI: | 10.1017/S0163548400002399 |