Econometrics. Vol. 3

The objectives of econometric modelling of producer behaviour are to determine the nature of substitution among inputs and outputs and of differences in technologya̧s well as the role of economies of scale in production. Recent advances in methodologyb̧ased on the dual formulation of the theory of production in terms of pricesḩave enabled econometricians to achieve these objectives more effectively. This volume summarizes the economic theoryţhe econometric methodologya̧nd the empirical findings resulting from the new approach.