Econometric Estimation of Production Function with Applications

Awoingo Adonijah Maxwell,Isaac Didi Essi

doi:10.32861/ajams.56.57.61

Abstract

This study focuses on Monte Carlo Methods in parameter estimation of production function. The ordinary least square (OLS) method is used to estimate the unknown parameters. The Monte Carlo simulation methods are used for the data generating process. The Cobb-Douglas production model with multiplicative error term is fitted to the data generated. From tables 1.1 to 1.3, the mean square error (MSE) of 1 are 0.007678, 0.001972 and 0.001253 respectively for sample sizes 20, 40 and 80. Our finding showed that the mean square error (MSE) value varies with the sum of the powers of the input variables.

Highlights

U z Let :z 1 and H U be the analytic functions in U and A the subclass of H U functions f having the power series expansion n 2 (1.1) normalized by f let’sS be the subclass ofA consisting univalent functions.The well-investigated subclasses of S are the class S* of starlike functions of order and the classC of convex functions of order
Our main purpose in this study is to find the upper bound for
The Fekete-Szegö problem has been investigated by many mathematicians for several subclasses of analytic functions [8, 11,12,13,14,15,16,17,18]

Summary

Introduction

The well-investigated subclasses of S are the class S* of starlike functions of order and the class. In Koegh and Merkes [10], solved the Fekete-Szegö problem for the classes of starlike and convex functions for some real. The Fekete-Szegö problem has been investigated by many mathematicians for several subclasses of analytic functions [8, 11,12,13,14,15,16,17,18]. By Thomas given sharp estimates for the modulus of the initial three coefficients of g z the function when the function f belong to some subclass of the analytic and univalent functions. We will recall as the Fekete-Szegö type problem for the function f. These inequalities are sharp for each n 1, 2, 3,

Bounds of

Theorem f z