Analysis of Hospital Production and Cost: Economies of Scale and Scope

Michael M. Alba

No DP 1995-21, Discussion Papers from Philippine Institute for Development Studies

Abstract: Using full-information maximum likelihood on a cross-section sample of 65 hospitals from seven Philippine provinces, this paper jointly estimates a two-output transcendental logarithmic variable cost function and four share equations. Results comply with the inequality conditions and the estimated function is found to be monotonic in both factor prices and outputs, concave in input prices and convex in outputs.

Keywords: drugs/medicine; hospitals; average cost; aggregation; cost functions; duality; Young’s theorem; cost elasticity; cost shares; economies of scale (search for similar items in EconPapers)
Pages: 64
Date: 1995
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