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A Note on Allen-Uzawa Partial Elasticities of Substitution: The Case of the Translog Cost Function

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Author Info
Atanas Christev
Allen Featherstone

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Abstract

This note provides a useful property of the Allen-Uzawa partials for the translog cost function. It also suggests how the main results extend to any functional form with certain properties. The curvature of the Allen-Uzawa matrix is the same as the curvature of the Hessian matrix. Intuitively, the Allen-Uzawa partials allow for the verification of curvature properties.

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Publisher Info
Paper provided by Department of Economics, School of Management and Languages, Heriot Watt University in its series Working Papers with number E03.

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Date of creation: 2005
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Handle: RePEc:hwe:hwecwp:2005-e03

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Related research
Keywords: Elasticity of Substitution; Translog Cost Function; Concavity;

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Find related papers by JEL classification:
C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Estimation
C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation and Testing
D20 - Microeconomics - - Production and Organizations - - - General

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  1. Anderson, R. K. & Moroney, J. R., 1993. "Morishima elasticities of substitution with nested production functions," Economics Letters, Elsevier, vol. 42(2-3), pages 159-166. [Downloadable!] (restricted)
  2. Diewert, Walter E & Wales, Terence J, 1987. "Flexible Functional Forms and Global Curvature Conditions," Econometrica, Econometric Society, vol. 55(1), pages 43-68, January. [Downloadable!] (restricted)
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  3. Ryan, David L & Wales, Terence J, 1998. "A Simple Method for Imposing Local Curvature in Some Flexible Consumer-Demand Systems," Journal of Business & Economic Statistics, American Statistical Association, vol. 16(3), pages 331-38, July.
    Other versions:
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This page was last updated on 2009-12-2.

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