predict.CobbDouglas: Prediction based on an estimated Cobb-Douglas production...

In alessandromagrini/CobbDouglas: Efficiency Analysis using the Cobb-Douglas Production Frontier

Description

Predict the maximum producible output or technical efficiency based on an estimated Cobb-Douglas production frontier.

Usage

## S3 method for class 'CobbDouglas'
predict(object, newdata=NULL, type="output", ...)

Arguments

object	An object of class CobbDouglas.
newdata	A data.frame in which to look for variables with which to predict the maximum producible output (if type="output") or technical efficiency (if type="efficiency").
type	The type of prediction: "output" (maximum producible output) or "efficiency" (technical efficiency). default is "output". It can be abbreviated.
...	Further arguments passed to the generic predict method.

Value

An object of class data.frame.

References

C. W. Cobb and P. H. Douglas (1928). A Theory of Production. American Economic Review, 18: 139-165.

See Also

CobbDouglas.

Examples

data(production)
m2 <- CobbDouglas("output", c("labour","capital"), data=production)

# prediction of the maximum producible output
predict(m2, newdata=data.frame(labour=20,capital=5))

# prediction of technical efficiency
predict(m2, newdata=data.frame(output=11.5,labour=20,capital=5), type="eff")

alessandromagrini/CobbDouglas documentation built on July 4, 2021, 1:21 a.m.