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Author: Ronald William Shephard
Publisher: Princeton University Press
ISBN: 0691647526
Category : Business & Economics
Languages : en
Pages : 320
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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.
Author: Ronald William Shephard
Publisher: Princeton University Press
ISBN: 0691647526
Category : Business & Economics
Languages : en
Pages : 320
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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.
Author: Günter Fandel
Publisher: Springer
ISBN:
Category : Cost
Languages : en
Pages : 432
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Book Description
Author: R.W. Shephard
Publisher: Springer
ISBN:
Category : Business & Economics
Languages : en
Pages : 124
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Book Description
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 received substantial support from the Office of Naval Research, first from a personal service consulting contract directly with the Mathematics Division of the Office of Naval Research and secondly from Project N6 onr-27009 at Princeton Univer sity under the direction of Professor Oskar Morgenstern. Grateful acknowledgement is made to the ·Office of Naval Research for this support and to Professor Morgenstern, in particular, for his interest in the puolication of this research. The responsibility for errors and omissions, how ever, rests entirely upon the author. Professor G. C. Evans has given in terms of a simple total cost function, depending solely upon output rate, a treatment of certain aspects of the economic theory of production which has inherent generality and convenience of formulation. The classical approach of expressing the technology of production by means of a production function is potentially less restrictive than the use of a simple total cost function, but it has not been applied in a more general form other than to derive the familiar conditions between marginal productivities of the factors of produc tion and their market prices.
Author: David F. Heathfield
Publisher: Palgrave
ISBN: 9780333416075
Category : Cost
Languages : en
Pages : 193
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Book Description
Author: Ronald William Shephard
Publisher: Springer
ISBN: 9780387111582
Category : Cost
Languages : en
Pages : 0
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Book Description
Author: Derek L. Bosworth
Publisher: Farborough, Eng. : Saxon House
ISBN:
Category : Business & Economics
Languages : en
Pages : 180
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Book Description
The johansen schema; An integrated system of production: comments and criticisms; The ex ante function; The ex ante function and the ex post micro function; Aggregate putty-clay functions; Agtregate neoclassical production functions; Neoclassical production functions: fact or fantasy? Production functions - some conclusions.
Author: Sune Carlson
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 152
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Book Description
Author: Erkin Bairam
Publisher: Routledge
ISBN: 1351768913
Category : Social Science
Languages : en
Pages : 140
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Book Description
This title was first published in 2001. The objective of this book is to discuss specification and applications of new production, cost and profit functions. It is aimed at specialists in production, economic growth, costs, profits and applied econometrics in particular.
Author: John P. Doll
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 424
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Book Description
Production and cost functions; Allocation of one variable input; Production with two or more variable inputs; Productions of two or more products; The production process through time; Economics of size and their implications for farms; Introduction to decision theory; Linear programming; Farm adjustments in a changing economy.
Author: Fouad Sabry
Publisher: One Billion Knowledgeable
ISBN:
Category : Business & Economics
Languages : en
Pages : 292
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Book Description
What is Production Function The production function is a concept in economics that describes the technological relationship that exists between the quantities of physical inputs and the quantities of things that are produced. When it comes to standard neoclassical ideas, the production function is one of the most important notions. It is utilized to define marginal product and to differentiate allocative efficiency, which is a very important aspect of economics. As an engineer or a professional manager might understand it, one of the most important purposes of the production function is to address allocative efficiency in the use of factor inputs in production and the resulting distribution of income to those factors. This is accomplished while abstracting away from the technological problems that arise in the process of achieving technical efficiency. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Production function Chapter 2: Physical capital Chapter 3: Growth accounting Chapter 4: Marginal cost Chapter 5: Cobb-Douglas production function Chapter 6: Marginal product Chapter 7: Diminishing returns Chapter 8: Output (economics) Chapter 9: Returns to scale Chapter 10: Cost curve Chapter 11: Solow-Swan model Chapter 12: Total cost Chapter 13: Constant elasticity of substitution Chapter 14: Supply (economics) Chapter 15: Production (economics) Chapter 16: Marginal product of capital Chapter 17: Productivity Chapter 18: Marginal product of labor Chapter 19: AK model Chapter 20: Technological theory of social production Chapter 21: Cambridge capital controversy (II) Answering the public top questions about production function. (III) Real world examples for the usage of production function in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Production Function.
