KREI Repository: IDENTIFICATION OF ECONOMIES OF SCOPE IN STOCHASTIC PRODUCTION TECHNOLOGIES

IDENTIFICATION OF ECONOMIES OF SCOPE IN STOCHASTIC PRODUCTION TECHNOLOGIES

영문 제목: IDENTIFICATION OF ECONOMIES OF SCOPE IN STOCHASTIC PRODUCTION TECHNOLOGIES

목차: CONTENTS1. Introduction2. General Definitions of Joint and Non-joint StochasticTechnologies3. Ex ante Cost functions of Joint adn Non-jiont StochasticTechonlogies4. Identification of Economies of Scope using Separabilityrestrictions on Risk5. ConclusionsABSTRACTThree restricted specifications of a stochastic technology that enableeconomies of scope to be identified are defined in the study. For eachspecification, the results of this study exactly parallel those obtained byPanzar and Willig (1981) for defining economies of scope using a non-stochastictechnology. Sub-additivity of the individual ex ante cost function of eachoutput is a sufficient condition for multi-output firms operating in astochastic production environment.

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