Multiple Outputs in Port Cost Functions

Jara-Di­az, Sergio R., Martinez-Budri­a, Eduardo and Juan José Diaz-Hernández
Authors registered in the RePEc Author Service: Sergio Jara-Diaz ()

Research in Transportation Economics, 2006, vol. 16, issue 1, 67-84

Abstract: By describing the technical process, in this article we argue that cargo that arrives in many different forms are distinct outputs of a port, whose services require inputs that can be grossly defined as labor, space, facilities, and equipment. Then we show theoretically and empirically that the use of aggregate output in the presence of distinct outputs causes erroneous conclusions on marginal costs, on economies of scale, and on optimal industry structure.

Date: 2006
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