Scale Economies in Small Entrepreneurial Firms

Gavin Reid

Scottish Journal of Political Economy, 1992, vol. 39, issue 1, 39-51

Abstract: For a sample of small, entrepreneurial firms, subjective cost curve estimates are obtained by field work methods using an administered questionnaire and "show cards." They indicate the prevalence of static, short-run increasing returns up to maximal output for a wide range of products in manufactures, services, construction, and transport. The dynamic scale effect, measured over a three-year period, is less clear and suggests a slight average tendency to dynamic increasing returns. Finally, cross-section econometric estimates of production functions, with no restriction imposed on the degree of homogeneity, suggest a long-run tendency to decreasing returns. Copyright 1992 by Scottish Economic Society.

Date: 1992
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Scottish Journal of Political Economy is currently edited by Tim Barmby, Andrew Hughes-Hallett and Campbell Leith

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