The multiproduct symmetric generalized McFadden cost function is increasingly prominent in empirical production analysis. Researchers should be aware that the scope for imposing and testing nonjointness in this model is limited. In the general version of the model, nonjointness requires the nontestable maintained hypothesis of similar (in a sense we define) single-output production technologies, a maintained hypothesis for which there is not normally any basis. The apparent imposition and testing of nonjointness must be qualified accordingly. In restricted versions of the model involving separability or constant returns that are often of interest in applied work,nonjointness is precluded.
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Paper provided by Department of Economics, University of Victoria in its series Econometrics Working Papers with number
0709.
Length: 14 pages Date of creation: 16 Dec 2007 Date of revision: Handle: RePEc:vic:vicewp:0709
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Find related papers by JEL classification: C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity
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