Generalized Ozaki cost function

From Wikipedia, the free encyclopedia

 This article or section is in need of attention from an expert on the subject.

WikiProject Economics or the Economics Portal may be able to help recruit one.

If a more appropriate WikiProject or portal exists, please adjust this template accordingly.

The generalized-Ozaki cost is a general description of cost described by Shuichi Nakamura.[1]

For output y, at date t and a vector of m input prices p, the generalized-ozaki cost, c, is

c(p,y,t) = \sum_i b_{ii} \left( y^{b_{yi}}e^{b_{ti}t} p_i + \sum_{j\,:\,j\neq i} b_{ij} \sqrt{p_ip_j} y^{b_y} e^{b_tt}\right).

[edit] References

  1. ^ Shinichiro Nakamura (1990). "A Nonhomothetic Generalized Leontief Cost Function Based on Pooled Data". The Review of Economics and Statistics 72 (4): 649-656. 
 This economics or finance-related article is a stub. You can help Wikipedia by expanding it.