Economies of scale in U. S. electric power generation
Citations
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1,209 citations
Cites background from "Economies of scale in U. S. electri..."
...…the problem of these biases and approaches to solving them (see, e.g., Marschak and Andrews (1944), Hoch (1955, 1958, 1962), Mundlak (1961, 1963, 1996), Mundlak and Hoch (1965), Christensen, Jorgenson, and Lau (1973), Christensen and Greene (1976), McElroy (1987), Panzar (1989), and Slade (1989))....
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...Christensen, Jorgenson, and Lau (1973), Christensen and Greene (1976)), have been generalized in a number of dimensions, including some fairly rich theoretical and statistical models....
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1,144 citations
Cites background or methods from "Economies of scale in U. S. electri..."
...First, there are now Bayesian applications to problems that have not received much attention in the classical literature, for example, O’Donnell and Coelli’s (2005) application in which they imposed the theoretical curvature conditions on a translog distance function. The estimation of technical or cost inefficiency poses an unusual challenge for Bayesian estimators, however. Since estimates of inefficiency (technical or cost) are individual observation specific, it is not possible to obtain them without assuming an informative prior. Thus, Koop et al. (1994), Tsionas (2002), and Huang (2004) all assume a gamma prior for ln ui with a known mean (and variance)....
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...(yet again) Christensen and Greene’s (1976) electricity generation cost data and the panel data on airlines listed in Greene (1997). Interestingly enough, the copula model applied to the electricity data produce some fairly substantial changes compared to the standard normal–half-normal model....
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...First, there are now Bayesian applications to problems that have not received much attention in the classical literature, for example, O’Donnell and Coelli’s (2005) application in which they imposed the theoretical curvature conditions on a translog distance function....
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...The authors report estimates based on the cost frontier estimated in Greene (1990) using the Christensen and Greene (1976) electricity data (described further below)....
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...Tsionas’s stochastic frontier model [applied to the Christensen and Greene (1976) electricity generation data] is...
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References
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"Economies of scale in U. S. electri..." refers background in this paper
...This result, known as Shephard's lemma (Shephard 1953), is conveniently expressed in logarithmic form for the translog cost function as...
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1,609 citations