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The HQ Production Function

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  • ROBERT E. KOHN

Abstract

A sixth‐degree production function of Henderson and Quands (1958), that exhibits increasing and then decreasing returns to scale, is generalized to allow for non‐homotheticity as well as homotheticity. Although the long‐run function lacks the desirable short‐run attribute of the original function, it has the advantage that the cross‐marginal product is conventionally positive The simplicity and versatility of die HQ production function make it useful for computer simulations of long‐run competitive market equilibrium with a determinate number of firms.

Suggested Citation

  • Robert E. Kohn, 1988. "The HQ Production Function," The Economic Record, The Economic Society of Australia, vol. 64(2), pages 133-135, June.
    • Handle: RePEc:bla:ecorec:v:64:y:1988:i:2:p:133-135
    DOI: 10.1111/j.1475-4932.1988.tb02049.x
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    References listed on IDEAS

    as
    1. Tsang, Herbert H, 1973. "Economic Hypotheses and the Derivation of Production Functions," The Economic Record, The Economic Society of Australia, vol. 49(127), pages 456-463, September.
    2. Robert E. Kohn, 1986. "The Rate of Emission and the Optimal Scale of the Polluting Firm," Canadian Journal of Economics, Canadian Economics Association, vol. 19(3), pages 574-581, August.
    3. Kohn, Robert E, 1987. "The Technology of Pollution Avoidance by Firms," Public Finance = Finances publiques, , vol. 42(3), pages 384-394.
    4. Robert E. Kohn, 1988. "Efficient Scale of the Pollution-Abating Firm," Land Economics, University of Wisconsin Press, vol. 64(1), pages 53-61.
    5. Robert E. Kohn, 1985. "A General Equilibrium Analysis of the Optimal Number of Firms in a Polluting Industry," Canadian Journal of Economics, Canadian Economics Association, vol. 18(2), pages 347-354, May.
    6. Kohn, Robert E., 1986. "The rate of interest in a stationary economy," Journal of Macroeconomics, Elsevier, vol. 8(3), pages 373-380.
    7. Herbert H. Tsang, 1973. "Economic Hypotheses and the Derivation of Production Functions," The Economic Record, The Economic Society of Australia, vol. 49(3), pages 456-463, September.
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    Cited by:

    1. Gregg Frasco, 2002. "A comparison of rents and producer surplus when industry input supply functions are interdependent," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 30(4), pages 403-413, December.

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