Digitale Medien
Oxford, UK
:
Blackwell Publishing Ltd
Bulletin of economic research
36 (1984), S. 0
ISSN:
1467-8586
Quelle:
Blackwell Publishing Journal Backfiles 1879-2005
Thema:
Wirtschaftswissenschaften
Notizen:
As normally employed, multioutput cost functions impose a bias against a finding of economies of scale, because a firm's optimal expansion path generally does not entail constant proportions over the various outputs. This bias can be overcome using a cost function defined in terms of a scalar aggregate output. An empirical example using New York commercial banks bears out the argument. As a sidelight, it is also argued that the traditional concept of scale economies is appropriate for policy purposes even when it conflicts with the more recently developed condition of natural monopoly (subadditivity of the cost function).
Materialart:
Digitale Medien
URL:
http://dx.doi.org/10.1111/j.1467-8586.1984.tb00524.x
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