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Homogeneity, Returns to Scale and (Log)Concavity

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Abstract

This brief note shows that if a production function, f, is quasiconcave, increasing and homogeneous, then f is concave if it displays nonincreasing returns to scale, and f is logconcave if it displays increasing returns to scale.

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  • Hjertstrand, Per, 2020. "Homogeneity, Returns to Scale and (Log)Concavity," Working Paper Series 1328, Research Institute of Industrial Economics.
    • Handle: RePEc:hhs:iuiwop:1328
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    References listed on IDEAS

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    1. Caplin, Andrew & Nalebuff, Barry, 1991. "Aggregation and Social Choice: A Mean Voter Theorem," Econometrica, Econometric Society, vol. 59(1), pages 1-23, January.
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    More about this item

    Keywords

    Homogeneity; Returns to scale; Rho-concavity;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory

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