Theory of Cost and Production Functions (eBook)

Ronald William Shephard (Autor)

eBook Download: PDF

2015
322 Seiten
Princeton University Press (Verlag)
978-1-4008-7108-7 (ISBN)

Infos

A sequel to his frequently cited Cost and Production Functions (1953), this book offers a unified, comprehensive treatment of these functions which underlie the economic theory of production.The approach is axiomatic for a definition of technology, by mappings of input vectors into subsets of output vectors that represent the unconstrained technical possibilities of production. To provide a completely general means of characterizing a technology, an alternative to the production function, called the Distance Function, is introduced.The duality between cost function and production function is developed by introducing a cost correspondence, showing that these two functions are given in terms of each other by dual minimum problems.The special class of production structures called Homothetic is given more general definition and extended to technologies with multiple outputs.Originally published in 1971.The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Produkt-Details

• Erscheint lt. Verlag: 8.3.2015
• Reihe/Serie: Princeton Legacy Library
• Reihe/Serie: Princeton Legacy Library
• Reihe/Serie: Princeton Studies in Mathematical Economics
• Reihe/Serie: Princeton Studies in Mathematical Economics
• Verlagsort: Princeton
• Sprache: englisch
• Themenwelt: Wirtschaft ► Volkswirtschaftslehre ► Mikroökonomie
• Schlagworte: Aggregate data • Aggregation problem • Average Cost • Axiom • Boundary (topology) • boundedness • Bounded set (topological vector space) • Calculation • Cartesian Product • Cobb–Douglas production function • coefficient • combination • Commodity • Constant elasticity of substitution • Continuous function (set theory) • convex function • convex set • Cost curve • Cost of operation • counterexample • Decision-Making • Derivative • Differentiable function • Dimension (vector space) • Divisia index • Domain of a function • Duality (optimization) • Economic equilibrium • Economic planning • Elasticity of substitution • Equation • exchange economy • existential quantification • Expansion path • Explicit formulae (L-function) • Exterior (topology) • Factorization • Factor price • Factors of Production • Family of sets • Function (mathematics) • General Equilibrium Theory • Homogeneous function • Imputed Value • income • Indirect utility function • Infimum and supremum • Interior (topology) • Intersection (set theory) • Inverse function • Isoquant • Lagrange multiplier • Lagrangian (field theory) • Limit point • Linear Programming • Loss Function • Marginal cost • Marginal product • Marginal return • marginal utility • Marginal value • Mathematical Optimization • Maxima and minima • Monotonic Function • Parameter • partial derivative • Preference (economics) • Price index • price level • Price point • Production Function • Production Planning • production set • Production theory • Proportionality (mathematics) • Quantity • Quasiconvex function • Real versus nominal value (economics) • Relative value (economics) • Schematic • Semi-continuity • shadow price • Sign (mathematics) • Solution Set • Special case • step function • subsequence • Subset • Supply (economics) • Technology • theory • The Product Space • Total Cost • Transfer Function • Triangle Inequality • Units of measurement • Unit sphere • Utility • Variable (mathematics) • Weighted geometric mean
• ISBN-10: 1-4008-7108-5 / 1400871085
• ISBN-13: 978-1-4008-7108-7 / 9781400871087