OK, this thread seems to be inching its way to the other side, but...
Translate me this!
QUOTE
Abstract We consider economies and diseconomies of scope for large U.S. banks by employing ordinary and hybrid translog cost functions. We examine the regularity conditions in output space where scope estimates are calculated and reject all models for which these conditions fail. The translog model always possesses violations. For the hybrid translog, violations occur in every case except one. In this one case, we find economies of scope.
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The whole 'shebang' here.> With all the mention of "economics" I'm pretty sure that is the topic. That's about as close as I can get, however. I always thought "Abstract" had a slightly different meaning, now I see a completely obvious and definitely ironic one.
OTOH, I learned a new word or phrase: diseconomy (as opposed to dateconomy?), hybrid translog (I've always used the more common, generic translogs), economies of scope (I think that means buying the mouthwash in larger bottles
)
It also concerns me that if "The translog model always possesses violations" why don't we have laws against them?! Where are the Feds when you need them? Probably asleep in an attic...
