Econometrica Vol. 45 No. 1 1977
Ray-Homothetic Production Functions
Abstract
A class of production correspondences defined as ray-homothetic is introduced to span the familiar homogeneous, homothetic, semi-homogeneous and quasi-homogeneous production structures. It is found that ray homothetic structures which are output mix (input mix) independent lead to a scaling law of common form with the more special structures spanned, and imply price independent expansion paths of linear structure. Also, if inputs and outputs are strongly disposable and the input and output sets L(u) and P(x) are convex, linear structured expansion paths imply input mix and output mix independent ray homothetic structures.
- DOI
- 10.2307/1913291
- Volume
- 45
- Issue
- 1
- Pages
- 133
- Sources
- bibtex:phds-export.bib openalex crossref