An Examination Of The Empirical Properties Of Duality Between The Restricted Profit, Unrestricted Profit, And Production Functions
This research examines the empirical properties of duality theory. A comparison of the Hessian matrices calculated from the normalized unrestricted and restricted profit, and production functions indicate that duality is highly sensitive to measurement error and relative price variability. Keywords: duality, restricted and unrestricted profit functions
|Date of creation:||1999|
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- Lau, Lawrence J., 1976. "A characterization of the normalized restricted profit function," Journal of Economic Theory, Elsevier, vol. 12(1), pages 131-163, February.
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