A PROGRAMMING APPROACH TO ESTIMATE PRODUCTION FUNCTIONS USING BOUNDS ON THE TRUE PRODUCTION SET
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Varian (1984) developed procedures to establish bounds on a true convex negative monotonic production set that p-rationalizes a set of data consistent with the weak axiom of profit maximization. These bounds can provide additional information for estimating parametric production functions. A mathematical programming procedure is developed to maximize various measures of goodness of fit of alternative parametric specifications relative to the true production set.