On the Econometric Analysis of Production When There Are No Output Data
AbstractA general method is described which allows a production activity to be analyzed by means of input data only. According to duality theory, the input cost shares can be completely specified without any information about output if the technology is homothetic. It is demonstrated that these cost shares can yield information about elasticities of substitution and factor demand and on productivity development. Moreover, the system of share equations can be generalized to allow for technical and allocative inefficiency and the effects of these inefficiencies on total costs and input demands can be estimated.
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Bibliographic InfoPaper provided by Research Institute of Industrial Economics in its series Working Paper Series with number 241.
Length: 42 pages
Date of creation: Dec 1989
Date of revision:
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Postal: Research Institute of Industrial Economics, Box 55665, SE-102 15 Stockholm, Sweden
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Production measures; elasticity of substitution; inefficiency; estimation method;
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