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Dynamic Measures of Scope and Scale Economies: An Application to German Agriculture

Author

Listed:
  • J. Fernandez-Cornejo
  • C. M. Gempesaw II
  • J. G. Elterich
  • S. E. Stefanou

Abstract

Static concepts of multiproduct economies of scale and scope are extended into a dynamic setting within the cost of adjustment framework. Important properties of the dynamic measures are developed and the foundations of a dynamic theory of the firm generalizing static neoclassical theory are presented. Dynamic measures of scope and scale as well as shadow costs are estimated empirically for multiple-output, multiple-input German dairy farms operating under a production quota. Causes of scope economies are explored and a conceptual model to predict the evolution of the production structure of German farms is formulated.

Suggested Citation

  • J. Fernandez-Cornejo & C. M. Gempesaw II & J. G. Elterich & S. E. Stefanou, 1992. "Dynamic Measures of Scope and Scale Economies: An Application to German Agriculture," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 74(2), pages 329-342.
  • Handle: RePEc:oup:ajagec:v:74:y:1992:i:2:p:329-342.
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