Paolo Bertoletti

The Allen/Uzawa Elasticity of Substitution as a Measure of Gross input Substitutability

Are you already subscribed?
Login to check whether this content is already included on your personal or institutional subscription.

Abstract

The Allen/Uzawa elasticity of substitution, still commonly used in the empirical studies to account for "net" substitutability, has been subject to a number of theoretical criticisms. In this paper we reconsider the Allen/Uzawa elasticity of substitution as a measure of "gross" substitutability, and show that to this relevant purpose it can be meaningfully interpreted in conjunction with the returns-to-scale properties of the technology.

Preview

Article first page

What do you think about the recent suggestion?

Trova nel catalogo di Worldcat