Scandinavian Working Papers in Economics

Working Paper Series,
Research Institute of Industrial Economics

No 1328: Homogeneity, Returns to Scale and (Log)Concavity

Per Hjertstrand ()
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Per Hjertstrand: Research Institute of Industrial Economics (IFN), Postal: Research Institute of Industrial Economics, Box 55665, SE-102 15 Stockholm, Sweden

Abstract: 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.

Keywords: Homogeneity; Returns to scale; Rho-concavity

JEL-codes: D21

4 pages, March 30, 2020

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