Journal Of The Econometric Society

An International Society for the Advancement of Economic
Theory in its Relation to Statistics and Mathematics

Edited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262

Econometrica: Jul, 1975, Volume 43, Issue 4

Estimation of the Cobb-Douglas Production Function<739:EOTCPF>2.0.CO;2-Y
p. 739-744

e-Min Wu

In this paper we derive the exact distribution of the indirect least squares estimator of the coefficients of the Cobb-Douglas production function within the context of a stochastic production model of Marschak-Andrews type. We also give a finite sample test of hypotheses on the coefficients of the production function and discuss a method of testing whether there is any systematic deviation from the profit maximizing conditions.

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