Färe and Mitchell(1992) have shown that cost functions for a multi-output firmobey a particular output-scaling law if and only if the underlyingproduction technology is ray-homothetic. Multi-output firms,however, frequently change their output mix in addition to theirscale. Therefore, it is...

This paper proposes a multiple-output Symmetric Generalised McFadden (SGM) cost function, incorporating both exogenous and endogenous technological change. Whilst exogenous technological change is captured by the usual time trend, endogenous or price-induced technological change is cast within a...

Cost functions as the foundation of managerial decision making usually assume a linear cost function with fixed and variable costs. The latter are dominantly regarded as being identical for increasing and for decreasing activity levels. However, empirical research shows that the decline in costs...

The aim of this paper is the establishment and validation of cost functions for the various assets of sewer systems, namely gravity and raising pipes, manholes and pumping-stations. Costs are defined as a function of the main physical characteristics of the assets, such as, the pipe material and...

A method to carry out a Reliability-Based Optimization (RBO) of especially nonlinear structural systems is introduced. Statistical uncertainties involving both structural and loading properties are considered. The concept is based on the separation of structural reliability analyses and the...

It 15 difficult to obtain c1osed-fonn solutions for input demand equations that are conducive to econometric estimation and policy analysis when the production function IS unknown Developments In the theory of duality facilitate obtaining such equations This article provides three examples of...