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AEB 6184 – Generalized McFadden and Translog Profit Function

Elluminate - 14. AEB 6184 – Generalized McFadden and Translog Profit Function. Generalized McFadden. As we discussed last week, the McFadden was developed for one output.

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AEB 6184 – Generalized McFadden and Translog Profit Function

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  1. Elluminate - 14 AEB 6184 – Generalized McFadden and Translog Profit Function

  2. Generalized McFadden • As we discussed last week, the McFadden was developed for one output. • Peeters, L. and Y. Surry. 2000. Incorporating Price-Induced Innovation in a Symmetric Generalized McFadden Cost Function with Several Outputs Journal of Productivity Analysis 14, 53-70.

  3. Mathematical Form • Symmetric Generalized McFadden (SGM), constant return to scale (CRTS)

  4. Shephard’s Lemma • Factor Demands

  5. Generalized McFadden

  6. Scope Measures

  7. Translog Profit Function • Defining the Translog profit function

  8. Normalizing by the last price

  9. Translog Estimates

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