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Theory of Cost and Production Functions
Ronald William Shephard
€ 53.47
€ 42.58
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Description for Theory of Cost and Production Functions
Paperback.
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 ... Read more
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 ... Read more
Product Details
Format
Paperback
Publication date
2015
Publisher
Princeton University Press
Condition
New
Number of Pages
322
Place of Publication
New Jersey, United States
ISBN
9780691620800
SKU
V9780691620800
Shipping Time
Usually ships in 7 to 11 working days
Ref
99-1
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