Arbeitspapier
Generalized quadratic revenue functions
In this paper we focus on specification of revenue functions in their dual price space. We consider two distance functions, both dual to the revenue function: Shephard output distance function and the directional output distance function, both in price space. The former is multiplicative, satisfying homogeneity, the latter is additive satisfying transitivity. Functional equation methods yield translog specification for the Shephard case and quadratic for the directional case. Monte Carlo evidence suggests that the quadratic specification more precisely represents technology.
- Language
-
Englisch
- Bibliographic citation
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Series: CESifo Working Paper ; No. 2404
- Classification
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Wirtschaft
Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
Computational Techniques; Simulation Modeling
- Subject
-
Einnahmen
Produktionsfunktion
Preis
Technologie
Analysis
Theorie
- Event
-
Geistige Schöpfung
- (who)
-
Chambers, Robert G.
Färe, Rolf
Grosskopf, Shawna
- Event
-
Veröffentlichung
- (who)
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Center for Economic Studies and ifo Institute (CESifo)
- (where)
-
Munich
- (when)
-
2008
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
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Object type
- Arbeitspapier
Associated
- Chambers, Robert G.
- Färe, Rolf
- Grosskopf, Shawna
- Center for Economic Studies and ifo Institute (CESifo)
Time of origin
- 2008
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