Estimation of the Primal

Charles Moss

Chapter 2 in Production Economics:An Empirical Approach, 2022, pp 71-152 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Chapter 1 laid out the primal production function from a producer choice perspective. Specifically, it addressed questions, such as “What are the required properties that a production function must possess for optimizing behavior?” In this process, several stylized production functions such as the Cobb—Douglas, translog, and constant elasticity of substitution were proffered to demonstrate these key properties. Given the basic characteristics of the production function developed in Chapter 1, this chapter presents a variety of methodologies used to estimate the production functions for applied work. These methodologies are largely econometric in nature. Specifically, we are interested in using mathematical specifications of the production function based on economic theory along with data and statistical methods to estimate production functions that are useful for empirical economic research.

Keywords: Production Economics; Producer Behaviour; Econometrics; Primal Approach; Dual Approach; Differential Approach; Economic Efficiency (search for similar items in EconPapers)
JEL-codes: D2 D51 L11 L23 (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9789811241260_0002 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9789811241260_0002 (text/html)
Ebook Access is available upon purchase.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9789811241260_0002

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().