Econometrica: Jul, 1967, Volume 35, Issue 3

Estimation of Returns to Scale and the Elasticity of Substitution

https://www.jstor.org/stable/1905646
p. 419-423

G. S. Maddala, J. B. Kadane

This paper concerns itself with the following problem: Suppose the true production function is of the CES type with constant returns to scalle. If we fit an unrestricted Cobb-Douglas production function instead, what is the nature of the bias in the estimate of the returns to scale parameter?

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