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Author: R.W. Shephard
Publisher: Springer Science & Business Media
ISBN: 3642515789
Category : Business & Economics
Languages : en
Pages : 116
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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: R.W. Shephard
Publisher: Springer Science & Business Media
ISBN: 3642515789
Category : Business & Economics
Languages : en
Pages : 116
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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: Erkin Bairam
Publisher: Routledge
ISBN: 1351768905
Category : Business & Economics
Languages : en
Pages : 181
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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: Günter Fandel
Publisher: Springer Science & Business Media
ISBN: 3642768121
Category : Business & Economics
Languages : en
Pages : 415
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Book Description
Production theory and the theory of cost both belong to the central areas of business administration, for all considerations concerning the economic organization of industrial manufacturing processes start from these. Two developments in the past 30 years have had a considerable influence on the structure and the concentration on points of emphasis in this book. I am referring to findings from KOOPMANS' activity analysis and to the formulation by GUTENBERG of a production function concept that focuses on industrial production processes. Activity analysis has made it possible to develop, from a uniform approach, different types of production functions which describe the concrete principles of production in the productive sector of a business enterprise; this has created a common basis for all production concepts in business administration. The Gutenberg Production Function with its different kinds of adjustment to a changing output has opened up a flexibility to theoretical and practical considerations that gave rise to a large number of additional studies in this area. Considerations in cost theory were in particular need of considerable extensions in the direction of cost minimal combined adjustment processes. By means of the organization of its contents, this book will take both approaches into due account. In that way, it is vastly different from other books dealing with the same subject. As a matter of course, traditional analytical methods and ways of thinking also constitute a large part of the book.
Author: Lourdes Trujillo
Publisher: World Bank Publications
ISBN:
Category : Costos de produccion
Languages : en
Pages : 32
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Book Description
Seaports provide multiple services to ships, cargo, and passengers. These services can be performed by a combination of public and private initiatives. Usually, the role of public sector institutions is to regulate and supervise private firms. In performing that task public sector institutions require in-depth knowledge of firms' cost structure. This paper offers a review of the literature about ports' cost structure and of its implications for regulation. The paper argues that the operation of port terminals should be analyzed by means of multiproduct theory. This approach allows the calculation of several cost indicators (economies of scale, scope, and so forth) which are key tools to help regulators. This paper--a product of the Finance and Private Sector Development Division, World Bank Institute--is part of a larger effort in the institute to provide policy-relevant material to infrastructure regulators and policymakers.
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: Rolf Färe
Publisher: Springer Science & Business Media
ISBN: 9780792395188
Category : Business & Economics
Languages : en
Pages : 194
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Book Description
This text presents a complete summary of the major results in duality theory pioneered by Ronald W. Shephard. Building on this base, the authors present new findings including the duality relationship between the profit function and the eight equivalent representations of technology that were elucidated by Shephard. Finally, it provides a number of applications of duality theory to economic problems. These include efficiency measurement, index number theory, shadow pricing, cost-benefit analysis and econometric estimation.
Author: Patrick M. Emerson
Publisher:
ISBN:
Category : Economics
Languages : en
Pages :
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Book Description
Author: Melvyn Fuss
Publisher: Elsevier
ISBN: 148325903X
Category : Business & Economics
Languages : en
Pages : 361
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Book Description
Contributions to Economic Analysis: Production Economics: A Dual Approach to Theory and Applications, Volume 2 focuses on the theory of production from the standpoint of the "dual", the relationships between economic observables which are dual to physical technology. The selection first ponders on duality, intermediate inputs and value-added, Hicks' aggregation theorem and the existence of a real value-added function, and homotheticity and real value-added in Canadian manufacturing. Discussions focus on real value-added and the production structure, estimation of the production structure, double deflation and real value-added, measurement of total productivity, and duality between direct and conditional indirect utility functions. The book then examines the estimation techniques for the elasticity of substitution and other production parameters and measurement of the elasticity of factor substitution and bias of technical change. The publication takes a look at the identification of technical change in the electricity generating industry, factor substitution in electricity generation, and the effectiveness of rate-of-return regulation. Topics include statistical tests of regulatory effectiveness, profit function for a regulated firm, tests of the structure of technology, identification problems in the measurement of technical change, and measurement of disembodied technical change. The selection is a valuable source of information for economists and researchers interested in production economics.
Author: Malcolm Pemberton
Publisher: Manchester University Press
ISBN: 1526173522
Category : Mathematics
Languages : en
Pages : 1118
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Book Description
This book is a self-contained treatment of all the mathematics needed by undergraduate and masters-level students of economics, econometrics and finance. Building up gently from a very low level, the authors provide a clear, systematic coverage of calculus and matrix algebra. The second half of the book gives a thorough account of probability, dynamics and static and dynamic optimisation. The last four chapters are an accessible introduction to the rigorous mathematical analysis used in graduate-level economics. The emphasis throughout is on intuitive argument and problem-solving. All methods are illustrated by examples, exercises and problems selected from central areas of modern economic analysis. The book's careful arrangement in short chapters enables it to be used in a variety of course formats for students with or without prior knowledge of calculus, for reference and for self-study. The preface to the new edition and full table of contents are available from https://www.manchesterhive.com/page/mathematics-for-economists-supplementary-materials
Author: Steven A. Greenlaw
Publisher:
ISBN: 9781947172340
Category :
Languages : en
Pages :
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Book Description
