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The SOIV Estimator: A Comparison With Alternative Estimators in a Model of the U.S. Apple Industry

Published online by Cambridge University Press:  10 May 2017

Ronald R. Piggott  and
William G. Tomek
Ronald R. Piggott
Affiliation:
University of Newcastle, Newcastle, Australia
William G. Tomek
Affiliation:
Cornell University
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Extract

Multicollinearity and a lack of degrees of freedom are problems in simultaneous systems, particularly in large models where the number of predetermined variables may exceed the number of observations. Such problems are somewhat less obvious in the small and medium-sized models typically estimated by agricultural economists. Thus, estimators designed to cope with the degrees of freedom (undersized sample) problem have received little attention in agricultural economics applications relative to macroeconometric uses.

Type
Research Article
Information
Journal of the Northeastern Agricultural Economics Council , Volume 5 , Issue 2 , October 1976 , pp. 1 - 17
Copyright
Copyright © Northeastern Agricultural and Resource Economics Association 

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References

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