A nonparametric test of quasiconcave production function with variable returns to scale

Sung-Ko Li

Journal of Mathematical Economics, 2019, vol. 82, issue C, 160-170

Abstract: Modeling “quasiconcavity” and “variable returns to scale” simultaneously is a challenging task. This paper defines variable returns to scale vigorously and explores its relationships with elasticity of scale and S-shaped functions. To check empirical data for consistency with both properties, this paper extends the current nonparametric tests for quasiconcave function to include both increasing and decreasing returns to scale. To accomplish this task, an empirical quasiconcave production function that exhibits variable returns to scale is introduced.

Keywords: Nonparametric tests; Quasiconcave production function; Variable returns to scale; S-shaped production function (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:82:y:2019:i:c:p:160-170

DOI: 10.1016/j.jmateco.2018.12.003

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