Abstract
A flexible form must have certain properties, in order to represent a restricted profit function. These are discussed, and a comparison is made between the translog and the generalised Leontief functional form, with and without homogeneity of degree one in the fixed factors. A specification for the restricted generalised Leontief profit function is proposed, in which homogeneity of degree one in the fixed factors is nested in the non-homogeneous case.
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