Working Paper No. 1328

Homogeneity, Returns to Scale and (Log)Concavity

Published: March 30, 2020Pages: 4Keywords: Homogeneity; Returns to scale; Rho-concavityJEL-codes: D21

Homogeneity, Returns to Scale and (Log)Concavity Per Hjertstrand


This brief note shows that if a production function, f, is quasiconcave, increasing and homogeneous, then f is concave if it displays nonincreasing returns to scale, and f is logconcave if it displays increasing returns to scale.


Reference:

Hjertstrand, Per (2020), "Homogeneity, Returns to Scale and (Log)Concavity". IFN Working Paper No. 1328. Stockholm: Research Institute of Industrial Economics.

Per Hjertstrand

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