Cost and Production Duality: The Case of the Regulated Firm

This paper examines a generalization of cost-production duality for regulated firms. It derives an equivalency between the production function and conditional factor demands for the case where the firm's optimization problem is subject to a set of additional (regulatory) constraints. This proce...

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Bibliographic Details
Published inJournal of productivity analysis Vol. 16; no. 3; pp. 203 - 224
Main Authors OUELLETTE, PIERRE, VIGEANT, STÉPHANE
Format Journal Article
LanguageEnglish
Published Norwell Kluwer Academic Publishers 01.11.2001
Springer Nature B.V
Subjects
Aviation regulation
Best available technology
Commercial regulation
Cost functions
Economic regulation
Economists
Financial investments
Industrial regulation
Investment return rates
Mathematical models
Minimization of cost
Optimization
Price regulations
Production functions
Regulated industries
Regulation
Studies
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Summary:This paper examines a generalization of cost-production duality for regulated firms. It derives an equivalency between the production function and conditional factor demands for the case where the firm's optimization problem is subject to a set of additional (regulatory) constraints. This procedure is extended to an optimization problem within a dynamic framework which leads to the recovery of the firm's technology.
Bibliography:SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 14
ISSN:0895-562X
1573-0441
DOI:10.1023/A:1012597904904