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Estimation of Returns to Scale and the Elasticity of Substitution

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journal contribution
posted on 01.11.1977, 00:00 by G. S. Maddala, Joseph B. Kadane
This paper concerns itself with the following problem: Suppose the true production function is of the CES type with constant returns to scale. 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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01/11/1977

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