Kumbhakar, Subal; Asche, Frank; Tveteras, Ragnar - In: Journal of Productivity Analysis 40 (2013) 3, pp. 307-321
This paper deals with estimation of a production technology where endogeneous choice of input and output variables is explicitly recognized. In particular, we assume that producers maximize return to the outlay (RO). For simplicity and tractability we start with a Cobb–Douglas transformation...