Theory of Cost and Production Functions

Released on by Ronald William Shephard
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  • Theory of Cost and Production Functions Book Detail

  • Author : Ronald William Shephard
  • Release Date : 2016-04-19
  • Publisher : Princeton University Press
  • Genre : Business & Economics
  • Pages : 320
  • ISBN 13 : 0691647526
  • File Size : 51,51 MB
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Theory of Cost and Production Functions by Ronald William Shephard PDF Summary

Book Description: 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.

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Theory of Cost and Production Functions

Theory of Cost and Production Functions

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A sequel to his frequently cited Cost and Production Functions (1953), this book offers a unified, comprehensive treatment of these functions which underlie the

Cost and Production Functions

Cost and Production Functions

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This study is the result of an interest in the economic theory of production intermittently pursued during the past three years. Over this period I have receive

Theory of Production and Cost

Theory of Production and Cost

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Production theory and the theory of cost both belong to the central areas of business administration, for all considerations concerning the economic organizatio