Estimating the Elasticity of Substitution between Inputs Comprising Fishing Effort: An Application to the VIII Division European Fishery
By I. del Valle, I. Astorkiza, and K. Astorkiza
ABSTRACT
A primal formulation is used to estimate a translog production function in order to analyze the substitution possibilities between production inputs. Particular attention is paid to the concept of fishing effort, which can be interpreted as an aggregate input that can be consistently formed only under the condition of weak separability. Cross sectional data from the Spanish purse seine fleet operating in the VIII Division European anchovy fishery do not provide evidence of input
substitution possibilities.
KEYWORDS: Fishing Effort; Translog Production Function; Separability; Elasticity of Substitution; VIII Division European Anchovy.
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