Economies of size and operating efficiency of livestock markets; a frontier function approach

• Published in: Journal of the Northeastern Agricultural Economics Council Vol. 9; no. 1; pp. 37 - 40
• Main Authors: Lesser, W.H, Greene, W.H
• Format: Journal Article
• Language: English
• Published: Newark, DE Northeastern Agricultural and Resource Economics Association 01.04.1980

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...