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Nonconvexity in Production and Cost Functions: An Exploratory and Selective Review

Author

Listed:
  • Walter Briec

    (LAMPS - LAboratoire de Modélisation Pluridisciplinaire et Simulations - UPVD - Université de Perpignan Via Domitia)

  • Kristiaan Kerstens

    (LEM - Lille économie management - UMR 9221 - UA - Université d'Artois - UCL - Université catholique de Lille - ULCO - Université du Littoral Côte d'Opale - Université de Lille - CNRS - Centre National de la Recherche Scientifique)

  • Ignace van de Woestyne

Abstract

The purpose of this contribution is to provide an overview of developments in nonconvex production technologies and economic value functions, with special attention to the cost function. Apart from a somewhat selective review of theoretical issues, the emphasis is on whether the assumption of convexity makes a difference in practice. Anticipating our conclusion, we argue that traditional convex empirical results differ on average rather markedly from alternative nonconvex ones. This should make the discipline reconsider its traditional relationship with convexity in both theoretical and applied production analysis.

Suggested Citation

  • Walter Briec & Kristiaan Kerstens & Ignace van de Woestyne, 2020. "Nonconvexity in Production and Cost Functions: An Exploratory and Selective Review," Post-Print hal-03048805, HAL.
    • Handle: RePEc:hal:journl:hal-03048805
    DOI: 10.1007/978-981-10-3450-3_15-1
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    Cited by:

    1. Arnaud Abad & Michell Arias & Paola Ravelojaona, 2023. "Environmental Productivity Assessment: an Illustration with the Ecuadorian Oil Industry," Working Papers hal-03574542, HAL.
    2. Giovanni Cesaroni, 2025. "Centralized allocations in free disposal hull technologies," Annals of Operations Research, Springer, vol. 351(2), pages 1293-1317, August.
    3. Kerstens, Kristiaan & Zhao, Shirong, 2025. "Testing the convexity hypothesis in nonparametric cost functions," Economics Letters, Elsevier, vol. 247(C).
    4. Chen, Xiaoqing & Kerstens, Kristiaan & Tsionas, Mike, 2024. "Does productivity change at all in Swedish district courts? Empirical analysis focusing on horizontal mergers," Socio-Economic Planning Sciences, Elsevier, vol. 91(C).

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