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Estimating global returns to scale with a cone-homogeneous production function: some cross-section results

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  • Michael Panik

Abstract

This paper employs a cone-homogeneous production function to approximate, as closely as desired, a ray-homogeneous production function. Points in input space are projected by an output scaling function on to a fixed ray and a Cobb-Douglas cone function is used to obtain an estimate of global returns to scale. The empirical results indicate that we get a good approximation to a ray-homogeneous production function from the estimated cone-homogeneous function.

Suggested Citation

  • Michael Panik, 2000. "Estimating global returns to scale with a cone-homogeneous production function: some cross-section results," Applied Economics, Taylor & Francis Journals, vol. 32(14), pages 1787-1791.
    • Handle: RePEc:taf:applec:v:32:y:2000:i:14:p:1787-1791
    DOI: 10.1080/000368400425008
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    1. Fare, Rolf & Jansson, Leif & Lovell, C A Knox, 1985. "Modelling Scale Economies with Ray-Homothetic Production Functions," The Review of Economics and Statistics, MIT Press, vol. 67(4), pages 624-629, November.
    2. Vijverberg, Chu-Ping C & Fei, John C H, 1996. "Production Functions with Factor-Oriented Scale Sensitivity," The Review of Economics and Statistics, MIT Press, vol. 78(2), pages 309-320, May.
    3. A. Zellner & N. S. Revankar, 1969. "Generalized Production Functions," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 36(2), pages 241-250.
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