A production function analysis of seabass and seabream production in Greece

Abstract

This paper analyzes the technical relationships involved in the production of seabass and seabream in Greece. The empirical findings indicate that the marginal productivity of juveniles and fish feed exhibit the largest fluctuates among fish farms, while at the same time consist of the most important inputs in the production of seabass and seabream. In contrast, little variation was found with respect to the marginal productivity of labor among fish farms. Returns to scale were found to be decreasing for all fish farms included in the sample. Estimates of Allen-Uzawa partial elasticities of substitution indicated a strong complementary relation between juveniles and fish feed and labor along with a quite strong substitutability between fish feed and labor given the prevelance of use of mechanical feeders.