• myGriffith
    • Staff portal
    • Contact Us⌄
      • Future student enquiries 1800 677 728
      • Current student enquiries 1800 154 055
      • International enquiries +61 7 3735 6425
      • General enquiries 07 3735 7111
      • Online enquiries
      • Staff phonebook
    View Item 
    •   Home
    • Griffith Research Online
    • Book chapters
    • View Item
    • Home
    • Griffith Research Online
    • Book chapters
    • View Item
    JavaScript is disabled for your browser. Some features of this site may not work without it.

    Browse

  • All of Griffith Research Online
    • Communities & Collections
    • Authors
    • By Issue Date
    • Titles
  • This Collection
    • Authors
    • By Issue Date
    • Titles
  • Statistics

  • Most Popular Items
  • Statistics by Country
  • Most Popular Authors
  • Support

  • Contact us
  • FAQs
  • Admin login

  • Login
  • Modeling factor price elasticities and factor substitution

    Author(s)
    Worthington, AC
    Higgs, H
    Griffith University Author(s)
    Worthington, Andrew C.
    Higgs, Helen
    Year published
    2014
    Metadata
    Show full item record
    Abstract
    This chapter uses a multiple-input, multiple-output translog cost function to calculate Allen-Uzawa and Morishima elasticities of substitution for 36 Australian universities. The input prices are academic and nonacademic labor and capital. The six outputs are undergraduate, postgraduate and PhD completions, national competitive and industry grants, and publications. The results suggest that the derived demand for academic labor in the Australian university sector is highly price inelastic while the demand for nonacademic labor and capital is highly price elastic. This suggests that the cost drivers in the Australian university ...
    View more >
    This chapter uses a multiple-input, multiple-output translog cost function to calculate Allen-Uzawa and Morishima elasticities of substitution for 36 Australian universities. The input prices are academic and nonacademic labor and capital. The six outputs are undergraduate, postgraduate and PhD completions, national competitive and industry grants, and publications. The results suggest that the derived demand for academic labor in the Australian university sector is highly price inelastic while the demand for nonacademic labor and capital is highly price elastic. This suggests that the cost drivers in the Australian university sector are presently price-related for academic inputs and technology-related for nonacademic and capital inputs. Moreover, the opportunities for input substitution are not symmetric, with the sector generally finding it easier to switch to capital than academic and nonacademic labor. Finally, while the Allen-Uzawa measures indicate that academic and nonacademic labor is a substitute, the less-restrictive Morishima measures suggest neither complementarity nor substitutability at the aggregate level.
    View less >
    Book Title
    Economic and Financial Modelling of Markets, Institutions and Instruments
    Publisher URI
    https://novapublishers.com/shop/economic-and-financial-modeling-of-markets-institutions-and-instruments/
    Subject
    Applied economics not elsewhere classified
    Publication URI
    http://hdl.handle.net/10072/66966
    Collection
    • Book chapters

    Footer

    Disclaimer

    • Privacy policy
    • Copyright matters
    • CRICOS Provider - 00233E

    Tagline

    • Gold Coast
    • Logan
    • Brisbane - Queensland, Australia
    First Peoples of Australia
    • Aboriginal
    • Torres Strait Islander