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Production and Cost Functions and their Application to the Port Sector : A Literature Survey

Seaports provide multiple services to ships, cargo, and passengers. These services can be performed by a combination of public and private initiatives. Usually, the role of public sector institutions is to regulate and supervise private firms. In p...

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Bibliographic Details
Main Authors: Tovar, Beatrice, Jara-Diaz, Sergio, Trujillo, Lourdes
Language:English
en_US
Published: World Bank, Washington, DC 2014
Subjects:
ACCOUNT
ANNUAL OBSERVATIONS
AVERAGE INCREMENTAL COST
BASIC
CONSTANT RETURNS TO SCALE
COST ANALYSIS
COST ESTIMATES
COST FUNCTIONS
COSTS
ECONOMIES OF SCALE
ECONOMIES OF SCOPE
ECONOMISTS
ELASTICITIES
ELASTICITY
ELASTICITY OF SUBSTITUTION
EMPIRICAL STUDIES
EQUATIONS
FACTOR DEMAND
FIXED COSTS
FLEXIBLE FUNCTIONAL FORMS
FUNCTIONAL FORMS
GROWTH RATE
INCREASING RETURNS
INCREASING RETURNS TO SCALE
INDEXES
INTERMEDIATE INPUTS
MARGINAL COST
MARGINAL COSTS
MAXIMUM LIKELIHOOD METHOD
NEW PRODUCTS
PRODUCTION
PRODUCTION FUNCTION
PRODUCTION FUNCTIONS
PRODUCTIVITY
PRODUCTIVITY GROWTH
PROGRAMMING
RETURNS TO SCALE
SCALE EFFECTS
SIMULATION
SIMULATION TECHNIQUES
TECHNOLOGICAL CHANGE
TECHNOLOGICAL PROGRESS
TERMINALS
TIME SERIES
TOTAL COSTS
PORT MANAGEMENT
CARGO HANDLING
REGULATORY FRAMEWORK
COST STUDIES
LITERATURE SURVEYS
OPTIMIZATION MODELS
ECONOMETRIC MODELS
Online Access:http://documents.worldbank.org/curated/en/2003/08/2503660/production-cost-functions-application-port-sector-literature-survey
http://hdl.handle.net/10986/18138
Description
Summary:Seaports provide multiple services to ships, cargo, and passengers. These services can be performed by a combination of public and private initiatives. Usually, the role of public sector institutions is to regulate and supervise private firms. In performing that task public sector institutions require in-depth knowledge of firms' cost structure. This paper offers a review of the literature about ports' cost structure and of its implications for regulation. The paper argues that the operation of port terminals should be analyzed by means of multiproduct theory. This approach allows the calculation of several cost indicators (economies of scale, scope, and so forth) which are key tools to help regulators.

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