Premium
A FAMILY OF AGRONOMIC PRODUCTION FUNCTIONS WITH ECONOMIES OF SCOPE
Author(s) -
Lloyd Peter J.
Publication year - 1989
Publication title -
australian journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.683
H-Index - 49
eISSN - 1467-8489
pISSN - 0004-9395
DOI - 10.1111/j.1467-8489.1989.tb00689.x
Subject(s) - diseconomies of scale , scope (computer science) , production (economics) , separable space , yield (engineering) , function (biology) , economics , commodity , industrial organization , microeconomics , mathematical economics , mathematics , computer science , economies of scale , market economy , mathematical analysis , materials science , evolutionary biology , biology , metallurgy , programming language
This paper derives a family of multiple‐output multiple‐input production functions from the underlying technologies. These technologies are represented by average yield functions for each of the commodities (crops) produced from a common pool of resources. The production functions are implicitly separable. Examples include the CRETH, translog, generalised power and generalised McFadden functions. Moreover, given a function which is a member of this family, the individual commodity yield and production functions can be recovered. Such implicitly separable multiple‐output production functions may exhibit economies or diseconomies of scope which reflect the interactions between outputs sharing a common pool of resources.