Choosing among alternative cost function specifications: An application to Italian multi-utilities

Massimiliano Piacenza; Davide Vannoni

doi:10.1016/j.econlet.2003.09.020

Choosing among alternative cost function specifications: An application to Italian multi-utilities

Massimiliano Piacenza
, Davide Vannoni

Risultato della ricerca: Contributo su rivista › Articolo in rivista › peer review

Abstract

The paper investigates the cost properties of a sample of Italian utilities providing in combination gas, water and electricity services. The estimates from a multi-product Composite cost function [Rev. Econ. Stat. 74 (1992) 221] are compared with the ones coming from other traditional functional forms such as the Standard Translog (ST), the Generalized Translog (GT), and the Separable Quadratic (SQ). The results show that the composite model provides a better description of data and highlight the presence of global scope and scale economies for the 'median' firm of the sample.

Lingua originale	Inglese
pagine (da-a)	415-422
Numero di pagine	8
Rivista	Economics Letters
Volume	82
Numero di pubblicazione	3
DOI	https://doi.org/10.1016/j.econlet.2003.09.020
Stato di pubblicazione	Pubblicato - mar 2004
Pubblicato esternamente	Sì

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10.1016/j.econlet.2003.09.020

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abstract = "The paper investigates the cost properties of a sample of Italian utilities providing in combination gas, water and electricity services. The estimates from a multi-product Composite cost function [Rev. Econ. Stat. 74 (1992) 221] are compared with the ones coming from other traditional functional forms such as the Standard Translog (ST), the Generalized Translog (GT), and the Separable Quadratic (SQ). The results show that the composite model provides a better description of data and highlight the presence of global scope and scale economies for the 'median' firm of the sample.",

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author = "Massimiliano Piacenza and Davide Vannoni",

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AU - Vannoni, Davide

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AB - The paper investigates the cost properties of a sample of Italian utilities providing in combination gas, water and electricity services. The estimates from a multi-product Composite cost function [Rev. Econ. Stat. 74 (1992) 221] are compared with the ones coming from other traditional functional forms such as the Standard Translog (ST), the Generalized Translog (GT), and the Separable Quadratic (SQ). The results show that the composite model provides a better description of data and highlight the presence of global scope and scale economies for the 'median' firm of the sample.

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KW - Scope and scale economies

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Choosing among alternative cost function specifications: An application to Italian multi-utilities

Abstract

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