Modeling economies of scale: the case of US electric power companies

Autor:	Kern O. Kymn, John J. Hisnanick
Rok vydání:	1999
Předmět:	Economics and Econometrics Returns to scale Operations research business.industry Technical progress Economies of scale Electric utility Econometric model General Energy Economics Econometrics Electric power Electricity business Productivity
Zdroj:	Energy Economics. 21:225-237
ISSN:	0140-9883
DOI:	10.1016/s0140-9883(98)00019-x
Popis:	Modeling and validating the existence of technical progress within the neoclassical production function specification has been facilitated through the translog functional form. However, attempts to separate out the effects of technical progress and returns to scale has been limited. This study develops and presents a model for testing the existence of these two separate effects using data from a sample of US electric power companies. The analysis found that for these electric utilities there existed increasing returns to scale and technical progress that was energy using but capital-neutral. However, scale effects were found to be a dominant factor in lessening the impact of declining average productivity.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::2792edef83b05279d8e26dd75bbe177b https://doi.org/10.1016/s0140-9883(98)00019-x Zobrazit plný text záznamu Full Text from ScienceDirect