Abstract
In empirical analysis of production functions, the standard approach is to choose ad hoc a parameterized family of functions (e.g., Cobb-Douglas- or CES-production functions) and then to fit the parameters according to a given set of observed data. This means that assumptions on the functional relationships are made, e.g. constant elasticity of substitution. In contrast to this approach we describe some numerical methods for a parameter-free approach which is based on the technical information on the micro-level.
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References
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© 1983 Springer-Verlag Berlin Heidelberg
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Hildenbrand, K. (1983). Numerical Computation of Short-Run-Production Functions. In: Eichhorn, W., Henn, R., Neumann, K., Shephard, R.W. (eds) Quantitative Studies on Production and Prices. Physica, Heidelberg. https://doi.org/10.1007/978-3-662-41526-9_13
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DOI: https://doi.org/10.1007/978-3-662-41526-9_13
Publisher Name: Physica, Heidelberg
Print ISBN: 978-3-7908-0275-7
Online ISBN: 978-3-662-41526-9
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