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

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  • Christev, Atanas

    ()
    (Heriot-Watt University, Edinburgh)

  • Featherstone, Allen

    ()
    (Kansas State University)

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 and empirically, the Allen-Uzawa partials allow for the verification of curvature properties.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 2712.

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Length: 15 pages
Date of creation: Mar 2007
Date of revision:
Handle: RePEc:iza:izadps:dp2712

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Keywords: translog cost function; elasticity of substitution; concavity;

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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.
  2. Featherstone, Allen M. & Moss, Charles B., 1993. "Measuring Economies of Scale and Scope in Agricultural Banking," Proceedings: 1993 Regional Committee NC-207, October 4-5, 1993, Chicago, Illinois, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition 131339, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.
  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, American Statistical Association, vol. 16(3), pages 331-38, July.
  4. W. Erwin Diewert & T.J. Wales, 1989. "Flexible Functional Forms and Global Curvature Conditions," NBER Technical Working Papers 0040, National Bureau of Economic Research, Inc.
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