Choice of the empirical definition of zero in the translog multiproduct cost functional form

Autor:	Yapo Genevier N’guessan, Allen Featherstone, Oluwarotimi Odeh, Sreedhar Upendram
Rok vydání:	2016
Předmět:	Microeconomics Economics and Econometrics Indirect costs Economies of scope 0502 economics and business 05 social sciences Econometrics Economics 050202 agricultural economics & policy 050207 economics Profit (economics) Economies of scale
Zdroj:	Applied Economics Letters. 24:1112-1120
ISSN:	1466-4291 1350-4851
DOI:	10.1080/13504851.2016.1259735
Popis:	The translog cost function is valuable to researchers for empirical analysis in themodelling of indirect cost and profit functions. A flaw of the functional form is in themodelling of zero output values. This study examined the impacts of empirical definition of zero output values on price elasticities, economies of scope and scale, using the translog cost function. Estimation of a system of cost and factor share equations with regularity condition imposed was conducted. Results show that the choice of default values affects policy recommendations.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::cf8c5eee4547b74998e8bf4e0baf91f7 https://doi.org/10.1080/13504851.2016.1259735 Zobrazit plný text záznamu