Abstract
If one wishes to comment on the empirical validity of production functions, one can start from two different points. On the one hand, one can make a list of all the formal requirements that have to be met by a production function if it is to be of any practical importance; then, one discusses if and under what conditions a specific production function meets these standards. Schweitzer and Küpper (1974), in their study on systems of production theory, chose this approach and analysed from a theoretical point of view the empirical validity of known production functions. Their findings will be described in the following two paragraphs of this chapter.
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© 1991 Springer-Verlag Berlin · Heidelberg
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Fandel, G. (1991). Empirical Validity of Production Functions. In: Theory of Production and Cost. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-76812-5_7
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DOI: https://doi.org/10.1007/978-3-642-76812-5_7
Publisher Name: Springer, Berlin, Heidelberg
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Online ISBN: 978-3-642-76812-5
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