Open AccessHomogeneity, Returns to Scale and (Log)Concavity
Author(s) -
Per Hjertstrand
Publication year - 2020
Publication title -
ssrn electronic journal
Language(s) - English
Resource type - Journals
ISSN - 1556-5068
DOI - 10.2139/ssrn.3643322
Subject(s) - homogeneity (statistics) , econometrics , statistics , returns to scale , mathematics , economics , microeconomics , production (economics)
This brief note shows that if a production function, f, is quasiconcave, increasing and homogeneous, then f is concave if it displays nonincreasing returns to scale, and f is logconcave if it displays increasing returns to scale.
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