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Returns to Scale, Elasticities of Substitution and Behavior of Shipping (Dry Bulk) Transport Costs, Some Empirical Evidence

  • Pablo Coto-Millán
  • José Baños-Pino
  • Miguel Ángel Pesquera
  • Rubén Sainz
  • Juan Castanedo
Chapter
Part of the Contributions to Economics book series (CE)

Abstract

In the present section, we estimate cost functions for Solid Bulk shipping transport by 34 private firms for 1991. The functional form used is the Translog drawn by Christensen et al. (1973). We also estimate the Allen and Morishima elasticities of substitution, and compare and interpret the results as well.

Keywords

Cost Function Private Firm Input Price Factor Price Share Equation 
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References

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Copyright information

© Springer-Verlag Berlin Heidelberg 2010

Authors and Affiliations

  • Pablo Coto-Millán
    • 1
  • José Baños-Pino
    • 2
  • Miguel Ángel Pesquera
    • 1
  • Rubén Sainz
    • 1
  • Juan Castanedo
    • 1
  1. 1.University of CantabriaSantanderSpain
  2. 2.University of OviedoOviedoSpain

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