Measuring Scale and Technical Change from Observable Data Under Uncertainty
Paul R. Flacco and
Douglas M. Larson
No 271065, 1990 Annual meeting, August 5-8, Vancouver, Canada from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
Returns to scale and technological change can be measured without econometric estimation for industries with output price uncertainty using panel data. Since expected utility maximization implies cost minimization, with panel data it is possible to approximate marginal cost using observed prices and quantities, from which scale and productivity measures follow.
Keywords: Research and Development/Tech Change/Emerging Technologies; Risk and Uncertainty (search for similar items in EconPapers)
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