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| Author: | Kolstad, C. |
| Title: | Cost functions and nonlinear prices: estimating a technology with quality-differentiated inputs |
| Journal: | Review of Economics and Statistics
1998 : AUG, VOL. 80:3, p. 444-453 |
| Index terms: | STATISTICS TECHNOLOGY ESTIMATION |
| Language: | eng |
| Abstract: | This paper is concerned with developing a production theory for the case when some inputs have nonlinear prices because the price depend on endogenous quality. This involves extending the notion of a cost function to the case where nonlinear prices are parameters of costs. After developing the appropriate theory, the authors apply their results to the case of coal-fired electric power generation where fuel quality depends on sulfur and ash impurities. |
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