Theory of Cost and Production Functions is popular PDF and ePub book, written by Ronald William Shephard in 2016-04-19, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Theory of Cost and Production Functions can be Read Online from any device for your convenience.
Theory of Cost and Production Functions Book PDF Summary
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.
Detail Book of Theory of Cost and Production Functions PDF
- Author : Ronald William Shephard
- Release : 19 April 2016
- Publisher : Princeton University Press
- ISBN : 9780691647524
- Genre : Business & Economics
- Total Page : 320 pages
- Language : English
- PDF File Size : 20,5 Mb
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