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Title:Generalized quadratic revenue functions PDF Logo
Authors:Chambers, Robert G.
Färe, Rolf
Grosskopf, Shawna
Issue Date:2008
Series/Report no.:CESifo working paper 2404
Abstract:In this paper we focus on specification of revenue functions in their dual price space. We consider two distance functions, both dual to the revenue function: Shephard output distance function and the directional output distance function, both in price space. The former is multiplicative, satisfying homogeneity, the latter is additive satisfying transitivity. Functional equation methods yield translog specification for the Shephard case and quadratic for the directional case. Monte Carlo evidence suggests that the quadratic specification more precisely represents technology.
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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