Estimating Dual Relationships

Charles Moss

Chapter 5 in Production Economics:An Empirical Approach, 2022, pp 299-378 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The following sections are included:Flexible Functional FormsGeneralized Second-Order Taylor Series ExpansionFourier ExpansionEstimation of Cost SystemsChoice of EstimatorsLimits to Flexible Functional FormsAggregation IssuesImposing RestrictionsElasticities of SubstitutionEmpirical Examples of Cost SpecificationsQuadratic Cost FunctionNormalized Quadratic Cost FunctionMcFadden Cost FunctionConcepts of SubadditivityMeasuring scope and scale economies in agricultural bankingGeneral formulation for the economies of scope and scaleQuadratic example with pseudo-dataSubadditivity and the translogAdmissible regionApplication with agricultural productivity dataComposite cost functions and subadditivityEstimating Revenue and Profit FunctionsUnivariate revenue functionMultioutput revenue functionEmpirical profit functionQuasi-Fixed Inputs and Dual Cost FunctionsEmpirical revenue function with quasi-fixed variableQuasi-fixed inputs and the profit functionQuasi-fixed variables and the cost functionChapter SummaryReview QuestionsExercises

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
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