Title: SUBSTITUTIONS IN THE FRENCH FOOD INDUSTRY FROM A TRANSLOG COST FUNCTION MODEL
Abstract: Abstract The translog form for a cost function dual to a production function is derived on the basis of the hypothesis of a simple form of various elasticities, including the Allen elasticity of substitution. It is shown that these modelling hypothesis are more realistic than the ones underlying a degenerate translog function (i.e. a Cobb-Douglas one). This cost function model is applied to the French food industry. For instance, the energy-capital Allen elasticity of substitution is 0.79 in 1981, which means that these two factors are substitutes.
Publication Year: 1984
Publication Date: 1984-01-01
Language: en
Type: book-chapter
Indexed In: ['crossref']
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