period between 1996 and 2011. Using a stochastic frontier panel data model, a total cost function and a variable cost … function are estimated in order to evaluate the impact of ownership unbundling on the level of cost efficiency. The results …

period between 1996 and 2011. Using a stochastic frontier panel data model, a total cost function and a variable cost … function are estimated in order to evaluate the impact of ownership unbundling on the level of cost efficiency. The results …

The current paper presents a model in which public R&D stock is included as a quasi-fixed input in a variable cost … function. Its price affects the long run desired level, while its shadow price indicates whether under (over) investment occurs …

variable cost function. The results reveal that during 1989-99, when many A-320 aircraft were inducted in the fleet …