Search Results - subject:"Cost function"

Hon, Martin - In: Politická ekonomie 2008 (2008) 6, pp. 833-842

The paper presents the evolution of the natural monopoly term in the economic literature. Using the citations of the authors the article shows various approaches to the natural monopoly concept from the very beginning till nowadays. The definition of natural monopoly has been changing over time...

Persistent link: https://www.econbiz.de/10008754975

Dairy Farms without Quotas: Simulations Based on a Multi-output Multi-input Cost Function

Baudry, Alexandre; Frahan, Bruno Henry de; Polome, Philippe - European Association of Agricultural Economists - EAAE - 2008

multioutput multi-input marginal cost curves for each farm of the sample. Second, we embed each estimated long-run farm cost … function in the objective function of a profit maximisation programming model built for each farm of the sample. Simulations …

Persistent link: https://www.econbiz.de/10005330087

Inventory Models with Markovian Demands and Cost Functions of Polynomial Growth

Beyer, Dirk; Sethi, Suresh; Taksar, Michael I. - 2008

This paper studies stochastic inventory problems with unbounded Markovian demands, ordering costs that are lower semicontinuous, and inventory/backlog (or surplus) costs that are lower semicontinuous with polynomial growth. Finite-horizon problems, stationary and nonstationary discounted-cost...

Persistent link: https://www.econbiz.de/10014047819

Why are Concavity Conditions Not Satisfied in the Cost Function? The Case of Japanese Manufacturing Firms during the Bubble Period

Ogawa, Kazuo - 2008

concavity conditions of the cost function. We focus on the "bubble period" in the 1980s when land was in great demand for … reasons related to both production and speculation, and land prices soared. By estimating the translog cost function with land …

Persistent link: https://www.econbiz.de/10014214453

A Microeconometric Model of a Short Run Cost Function with Unobserved Heterogeneity

Prentice, David - 2008

Unobserved plant level heterogeneity and discrete production processes can produce problems for estimation. A structural model of discrete production decisions by heterogeneous plants is constructed and, as a case study, estimated for the U.S. Portland cement industry. A new estimator is...

Persistent link: https://www.econbiz.de/10014216227

Pricing, Capacity and Long-Run Cost Functions for First-Best and Second-Best Network Problems

Verhoef, Erik T.; Koh, Andrew Toon Meng; Shepherd, Simon - 2008

This paper considers the use of 'long-run cost functions' for congested networks in solving second-best network problems, in which capacity and tolls are instruments. We derive analytical results both for general cost and demand functions and for specific functional forms, namely Bureau of...

Persistent link: https://www.econbiz.de/10014217522

Rejecting Capital-Skill Complementarity at All Costs

Frondel, Manuel; Schmidt, Christoph M. - 2008

Any serious empirical study of factor substitutability has to allow the data to display complementarity as well as substitutability. The standard approach reflecting this idea is a translog specification - this is also the approach used by numerous studies analyzing the relative capital-skill...

Persistent link: https://www.econbiz.de/10014109792

Local governments in the wake of demographic change : evidence from German municipalities

Geys, Benny; Heinemann, Friedrich; Kalb, Alexander - 2008

Persistent link: https://www.econbiz.de/10003776250

Equilibrium in fiscal competition games from the point of view of the dual

Petchey, Jeffrey D. (contributor); … - 2008

. Convexity of the minimum cost function, "dual" to the factor preferences and production function primitives, is sufficient to … mobile factor supply existence is shown to depend only on the convexity of the state j cost function in the supply of the … underlying state j cost function, are key contributions of the paper. However, there is more. Using two examples these results …

Persistent link: https://www.econbiz.de/10003794728

Why are concavity conditions not satisfied in the cost function? : the case of Japanese manufacturing firms during the bubble period

Ogawa, Kazuo (contributor) - 2008

concavity conditions of the cost function. We focus on the “bubble period” in the 1980s when land was in great demand for … reasons related to both production and speculation, and land prices soared. By estimating the translog cost function with land … concavity are not excluded from the analysis. -- Land ; Translog cost function ; Concavity …

Persistent link: https://www.econbiz.de/10003757808