<abstract xmlns="http://www.w3.org/1999/xhtml"><p>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.</p></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.

Estimation of a Production Function for Philippine Retail Stores

ECONOMICS

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

{"article-title":"Estimation of a Production Function for Philippine Retail Stores"}

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...

Estimation of a Production Function for Philippine Retail Stores

Published Online: Jul 04, 2019

Page range: 69 - 79

Received: Mar 21, 2019

Accepted: Apr 03, 2019

DOI: https://doi.org/10.2478/eoik-2019-0006

Keywords
production function, retail industry, Philippines

© 2019 Jason C. Patalinghug, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Estimation of a Production Function for Philippine Retail Stores

Published Online: Jul 04, 2019

Page range: 69 - 79

Received: Mar 21, 2019

Accepted: Apr 03, 2019

DOI: https://doi.org/10.2478/eoik-2019-0006

Keywordsproduction function, retail industry, Philippines

© 2019 Jason C. Patalinghug, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Keywords
production function, retail industry, Philippines