Estimation of a Production Function for Philippine Retail Stores
Abstract
The purpose of this paper is the estimation of a production function for retail stores in the Philippines. A generalized Cobb-Douglas production function is utilized for this purpose. Ordinary Least Squares is used in obtaining the coefficients for labor and capital. The results show that the marginal product of labor to be higher than the marginal product of capital and the hypothesis of constant returns to scale is not rejected.
Language: English
Page range: 69 - 79
Submitted on: Mar 21, 2019
Accepted on: Apr 3, 2019
Published on: Jul 4, 2019
Published by: Oikos Institut d.o.o.
In partnership with: Paradigm Publishing Services
Publication frequency: 3 issues per year
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© 2019 Jason C. Patalinghug, published by Oikos Institut d.o.o.
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.