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blu108
2009 Nov 03
1
Maximum Likelihood Estimation
Hi,
I would like estimate a model for function of production's Coob-Douglas using maximum likelihood. The model is log(Y)= beta[1]+beta[2]*log(L)+beta[3]*log(K). I tried estimate this model using the tools nlm ( ) and optim ( ) using the log-likelihood function below:
> mloglik <- function (beta, Y, L, K) {
+ n <- length(Y)
+ sum ( (log(Y)-