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Price-Augmenting Returns to Scale: An Application to Nonseparable Two-Stage Technologies

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  • Pollak, Robert A
  • Wales, Terence J

Abstract

The authors introduce a procedure for transforming any homogeneous technology into a nonhomothetic one. This procedure is particularly useful when applied to a nonseparable two-stage constant elasticity of substitution technology since the number of additional parameters to be estimated is small and since imposing regularity conditions in the estimation of these technologies is straightforward. The authors illustrate the technique by estimating the nonseparable two-stage Leontief constant elasticity of substitution cost function using the familiar Berndt-Wood-Khaled time-series data on U.S. manufacturing output, and compare their results with the familiar (single-stage) translog cost function. Copyright 1992 by MIT Press.

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  • Pollak, Robert A & Wales, Terence J, 1992. "Price-Augmenting Returns to Scale: An Application to Nonseparable Two-Stage Technologies," The Review of Economics and Statistics, MIT Press, vol. 74(2), pages 213-220, May.
    • Handle: RePEc:tpr:restat:v:74:y:1992:i:2:p:213-20
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    Cited by:

    1. Ikerne Del Valle & Inmaculada Astorkiza & Kepa Astorkiza, 2003. "Fishing effort validation and substitution possibilities among components: the case study of the VIII division European anchovy fishery," Applied Economics, Taylor & Francis Journals, vol. 35(1), pages 63-77.

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