CPR Working Paper Series No. 80
Estimating Heterogeneous Production in Fisheries
Kurt E. Schnier, Christopher M. Anderson, and William C. Horrace
March 2006
Abstract:
Stochastic production frontier
models are used extensively in the agricultural and resource economics
literature to estimate production functions and technical efficiency, as
well as to guide policy. Traditionally these models assume that each
agent’s production can be specified as a representative, homogeneous
function. This paper proposes the synthesis of a latent class regression
and an agricultural production frontier model to estimate technical
efficiency while allowing for the possibility of production heterogeneity.
We use this model to estimate a latent class production function and
efficiency measures for vessels in the Northeast Atlantic herring fishery.
Our results suggest that traditional measures of technical efficiency may be
incorrect, if heterogeneity of agricultural production exists.
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