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| Author: | Taalas, M. |
| Title: | Generalized cost functions for producers of performing arts - allocative inefficiencies and scale economies in theatres |
| Journal: | Journal of Cultural Economics
1997 : VOL. 21:4, p. 335-353 |
| Index terms: | SCALING THEATRE INDUSTRY COSTS |
| Language: | eng |
| Abstract: | This paper examines the structure of the production of cultural services by using a generalized cost function and a panel data set of theatres. The main points of interest are: first, whether the production of theatrical performances is allocatively efficient, second, whether underlying production technology exhibits homotheticity with respect to output, and third, whether there exist economic gains from large scale production. The results of the analysis suggest that inputs are not combined in optimal proportions in light of prevailing market prices. |
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