IDEAS home Printed from https://ideas.repec.org/p/ags/queddp/275188.html
   My bibliography  Save this paper

Set-Up Costs and Theory of Exhaustible Resources, and A Note on Set-Up Costs Facing Consumers

Author

Listed:
  • Hartwick, John M.
  • Kemp, Murray C.
  • Van Long, Ngo

Abstract

This paper discusses the traditional specification problem from a geometric viewpoint. While the traditional emphasis is on the properties of estimators, the geometric approach also allows an easy development of corresponding results for inference. Errors arising from artificial inclusion or exclusion of variables are considered in terms of augmentations or restrictions on a given maintained hypothesis, and this allows a corresponding interpretation of tests based upon the Wald and Lagrange Multiplier Principles. It is demonstrated that biases arising from incorrect exclusion of variables do not invalidate the traditional F-test.

Suggested Citation

  • Hartwick, John M. & Kemp, Murray C. & Van Long, Ngo, 1980. "Set-Up Costs and Theory of Exhaustible Resources, and A Note on Set-Up Costs Facing Consumers," Queen's Institute for Economic Research Discussion Papers 275188, Queen's University - Department of Economics.
  • Handle: RePEc:ags:queddp:275188
    DOI: 10.22004/ag.econ.275188
    as

    Download full text from publisher

    File URL: http://ageconsearch.umn.edu/record/275188/files/QUEENS-IER-PAPER-412.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. Michael Spence, 1976. "Product Selection, Fixed Costs, and Monopolistic Competition," Review of Economic Studies, Oxford University Press, vol. 43(2), pages 217-235.
    2. Brown, Donald J. & Heal, Geoffrey, 1980. "Two-part tariffs, marginal cost pricing and increasing returns in a general equilibrium model," Journal of Public Economics, Elsevier, vol. 13(1), pages 25-49, February.
    3. Arnott, Richard J & Riley, John G, 1977. " Asymmetrical Production Possibilities, the Social Gains from Inequality and the Optimum Town," Scandinavian Journal of Economics, Wiley Blackwell, vol. 79(3), pages 301-311.
    4. Meade, James E, 1974. "The Optimal Balance between Economies of Scale and Variety of Products: An Illustrative Model," Economica, London School of Economics and Political Science, vol. 41(164), pages 359-367, November.
    5. Stern, Nicholas, 1972. "The optimal size of market areas," Journal of Economic Theory, Elsevier, vol. 4(2), pages 154-173, April.
    Full references (including those not matched with items on IDEAS)

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:queddp:275188. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search). General contact details of provider: http://edirc.repec.org/data/qedquca.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.