The Structure of Technology with Endogenous Capital Utilization
提出一个模型，允许企业选择资本设备的利用率和维护水平以最小化用户成本，并通过两阶段优化和估计来估计生产技术，与标准模型比较并讨论偏差。
A model is presented for the estimation of production technology when capital is endogenously utiliz ed. The present model permits the firm to choose the rate of utilizat ion and level of maintenance applied to its capital equipment such th at the user cost of capital services is minimized. The model is one o f two-stage optimization and estimation. The two stages are integrate d, using duality theory, through the generation of an instrumental us er cost variable in the first stage. The instrumental user cost is th en utilized for the estimation of the aggregate technology. The resul ts are compared to results obtained from standard models with exogeno us capital utilization and the emerging biases are discussed. Copyright 1988 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.