Estimating global returns to scale with a cone-homogeneous production function: some cross-section results

Michael Panik

Applied Economics, 2000, vol. 32, issue 14, 1787-1791

Abstract: This paper employs a cone-homogeneous production function to approximate, as closely as desired, a ray-homogeneous production function. Points in input space are projected by an output scaling function on to a fixed ray and a Cobb-Douglas cone function is used to obtain an estimate of global returns to scale. The empirical results indicate that we get a good approximation to a ray-homogeneous production function from the estimated cone-homogeneous function.

Date: 2000
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DOI: 10.1080/000368400425008

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