Production Functions: an Econometric Study of Estimation of Agricultural Frontier Production Functions

Technological breakthrough is an essential input for increasing the production of agriculture or industry. Proper application of viable technology assumes paramount importance in this regard, which will be known from an in-depth analysis and understanding of the efficiencies that emerge from production functions and frontier production function of various farms or firm groups. Frontier production functions are gaining much importance in recent studies because of their role in measuring the various types of efficiencies of farms. This trend gives measure of inefficiencies of farms which are very important in economic decision making process. An attempt is made in this book to measure the farm specific efficiency by modifying the existing models with reference to sugarcane farms. The analysis of efficiencies of these different models will help not only the farms to make appropriate use of these techniques but also the developmental persons in choosing and suggesting the most effective model for unearthing various parameters contributing to the farm efficiency specific to individual and group farms.