Theory of Cost and Production Functions - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Theory of Cost and Production Functions write by Ronald William Shephard. This book was released on 2016-04-19. Theory of Cost and Production Functions available in PDF, EPUB and Kindle. 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.
Cost and Production Functions
Cost and Production Functions - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Cost and Production Functions write by R.W. Shephard. This book was released on 2012-12-06. Cost and Production Functions available in PDF, EPUB and Kindle. 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.
Theory of Production and Cost
Theory of Production and Cost - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Theory of Production and Cost write by Günter Fandel. This book was released on 2012-12-06. Theory of Production and Cost available in PDF, EPUB and Kindle. 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.
Cost and Production Functions
Cost and Production Functions - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Cost and Production Functions write by Ronald William Shephard. This book was released on 1953. Cost and Production Functions available in PDF, EPUB and Kindle.
An Introduction to Cost and Production Functions
An Introduction to Cost and Production Functions - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook An Introduction to Cost and Production Functions write by David F. Heathfield. This book was released on 1987. An Introduction to Cost and Production Functions available in PDF, EPUB and Kindle.
