Technical Progress and Economies of Scale: Concept of Holotheticity

Ryuzo Sato and Rama V. Ramachandran
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Ryuzo Sato: New York University
Rama V. Ramachandran: Pebble Brook Lane

Chapter Chapter 2 in Symmetry and Economic Invariance, 2014, pp 13-28 from Springer

Abstract: Abstract Economists are interested in returns to scale for three reasons. First, the equilibrium of an industry is dependent on the nature of its technology. Next, growth theorists, while attributing most of the growth in per capita output to factors other than the increase in capital intensity, are not able to agree whether productivity increases should be modelled as arising from technological change or scale effects. Finally, econometricians recognize the problems in identifying the two sources of productivity in any empirical study.

Keywords: Production Function; Technical Change; Technical Progress; Scale Economy; Cost Curve (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advchp:978-4-431-54430-2_2

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DOI: 10.1007/978-4-431-54430-2_2

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