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OLS and Frontier Function Estimates of Long-Run Average Cost for Tennessee Livestock Auction Markets

Published online by Cambridge University Press:  28 April 2015

Dan L. McLemore ,
Glen Whipple  and
Kimberly Spielman
Dan L. McLemore
Affiliation:
Department of Agricultural Economics and Rural Sociology, University of Tennessee
Glen Whipple
Affiliation:
Department of Agricultural Economics and Rural Sociology, University of Tennessee
Kimberly Spielman
Affiliation:
Department of Agricultural Economics and Rural Sociology, University of Tennessee
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Extract

Considerable research has been conducted to explore economies of size in the livestock auction market industry. Since auction market cost functions are expected to conform to microeconomic theory, conclusions regarding industry economies of size are often derived from estimated long-run average total cost (LRATC) functions (French; Stoddard).

Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 15 , Issue 2 , December 1983 , pp. 79 - 83
Copyright
Copyright © Southern Agricultural Economics Association 1983

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