The Cobb-Douglas, constant elasticity of substitution, and translog production functions are examined, using the Aigner-Chu linear programming, the sophisticated Aigner-Lovell-Schmidt stochastic frontier, and the direct method of adjusted ordinary least squares frontier estimators. The performance of three frontier steam electric generation estimators is compared in terms of the consideration given to new production technologies and their technical efficiency. Moreover we prove that it belongs to the class C1.įrontier production function estimates for steam electric generation: a comparative analysis In this paper we establish the analytical expression for the cost function using the Cobb-Douglas model and considering maximum constraints for the inputs. One of the most well-known problems in the field of Microeconomics is the Firm's Cost-Minimization Problem. The analytic solution of the firm's cost-minimization problem with box constraints and the Cobb-Douglas modelīayón, L. Nan Jiang applied Stochastic Frontier analysis to a panel of New Zealand dairy forms in 1998/99-2006/2007. ![]() AshkanHassani exposed Cobb-Douglas Production Functions application in construction schedule crashing and project risk analysis related to the duration of construction projects. used a parameter approach Stochastic Frontier Approach (SFA) to examine the technical efficiency of the Malaysian domestic banks listed in the Kuala Lumpur stock Exchange (KLSE) market over the period 2005-2010. This paper includes the framing of goal programming by which stochastic cost frontier and stochastic VRTS frontiers are fitted. ![]() Here the one side goal programming problem is proposed by which the full Cobb-Douglas cost frontier, full VRTS frontier can be fitted. This paper tells us that the cost limited maximal output is cost efficient. The present research article first defines two popular production functions viz, Cobb-Douglas and VRTS production frontiers and their dual cost functions and then derives their cost limited maximal outputs. Fitting of full Cobb-Douglas and full VRTS cost frontiers by solving goal programming problem
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