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Cost And Production Functions
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Book Synopsis Theory of Cost and Production Functions by : Ronald William Shephard
Download or read book Theory of Cost and Production Functions written by Ronald William Shephard and published by Princeton University Press. This book was released on 2016-04-19 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Cost and Production Functions by : R.W. Shephard
Download or read book Cost and Production Functions written by R.W. Shephard and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Theory of Production and Cost by : Günter Fandel
Download or read book Theory of Production and Cost written by Günter Fandel and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 415 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Cost and Production Functions by : Ronald William Shephard
Download or read book Cost and Production Functions written by Ronald William Shephard and published by . This book was released on 1953 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Introduction to Cost and Production Functions by : David F. Heathfield
Download or read book An Introduction to Cost and Production Functions written by David F. Heathfield and published by . This book was released on 1987 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Cost and Production Functions by : Ronald William Shephard
Download or read book Cost and Production Functions written by Ronald William Shephard and published by . This book was released on 1953 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Production and Cost Functions by : Erkin Bairam
Download or read book Production and Cost Functions written by Erkin Bairam and published by Routledge. This book was released on 2018-04-27 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Specification and Estimation of Multiple-Output Production Functions by : G. Hasenkamp
Download or read book Specification and Estimation of Multiple-Output Production Functions written by G. Hasenkamp and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: This monograph is intended as a contribution to applied work in production theory by treating: a) The measurement problems involved whenever several outputs are jointly produced, and b) The (possible) econometric framework for estimating production function parameters whenever (relative) prices vary sufficiently over the observations. Thus, the "pure" theory of production, and the theory of non-linear regression is not treated in sufficient detail: for these topics we refer to the available literature~ for a comprehensive list of references we refer to Uebe (1975). Some years ago, papers by L. J. Lau and W. E. Diewert initiated my interest in duality within production theory, and then I started to appreciate R. W. Shephard's fundamental contribution to this topic. This monograph is a (minor) revision of a Ph. D. dissertation submitted to the Department of Economics, The University of Wisconsin, Madison, in August 1973. The Graduate School and the Social Systems Research Institute provided funds for the reported computer work, Lawrence R. Klein and Laurits R. Christensen provided data, and as a Graduate Student I received financial support in form of an University Fellowship~ all this is very much appreciated. With some nostalgia I think back to the enjoyable period of learning during the preparation of my diFosertation~ I appreciate the spirit within the department, and the guidance of my committee Arthur S. Goldberger, Dennis J. Aigner, and Laurits R. Christensen.
Book Synopsis Intermediate Microeconomics by : Patrick M. Emerson
Download or read book Intermediate Microeconomics written by Patrick M. Emerson and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Production Economics: An Empirical Approach by : Charles Britt Moss
Download or read book Production Economics: An Empirical Approach written by Charles Britt Moss and published by World Scientific. This book was released on 2022-02-25 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: Production economics is that branch of microeconomics that examines producer decisions. This book focuses on the empirical estimation of these relationships using primal, dual, and differential specifications. The primal specification models production decisions based on the production function — estimation of the input/output relationship and the derivation of optimization behavior from this technical relationship. The dual approach estimates production decisions using economic information such as input and output prices. The textbook then develops the linkages between these relationships. The differential specification is an alternative approach derived from changes in the first-order conditions from cost minimizing behavior. In each case, the theoretical development is followed by different empirical specifications that can be used to estimate the producer's choice.
Book Synopsis Indirect Production Functions by : Ronald William Shephard
Download or read book Indirect Production Functions written by Ronald William Shephard and published by . This book was released on 1974 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Utility and Production by : Pablo Coto-Millán
Download or read book Utility and Production written by Pablo Coto-Millán and published by Boom Koninklijke Uitgevers. This book was released on 2003 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: This microeconomics text presents the traditional economic theories about utility and production, as well as the main alternative theories of consumer and company behaviour. It contains new theoretical functions created from specific optimisation procedures. Moreover, it details clearly the common function expression forms such as Cobb-Douglas and CES in which the theory is checked. Furthermore, it presents empirical tests and their interpretation in relation to the theory. Finally, the last chapter looks at choice made under conditions of uncertainty.
Book Synopsis Chicago Price Theory by : Sonia Jaffe
Download or read book Chicago Price Theory written by Sonia Jaffe and published by Princeton University Press. This book was released on 2019-09-10 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: An authoritative textbook based on the legendary economics course taught at the University of Chicago Price theory is a powerful analytical toolkit for measuring, explaining, and predicting human behavior in the marketplace. This incisive textbook provides an essential introduction to the subject, offering a diverse array of practical methods that empower students to learn by doing. Based on Economics 301, the legendary PhD course taught at the University of Chicago, the book emphasizes the importance of applying price theory in order to master its concepts. Chicago Price Theory features immersive chapter-length examples such as addictive goods, urban-property pricing, the consequences of prohibition, the value of a statistical life, and occupational choice. It looks at human behavior in the aggregate of an industry, region, or demographic group, but also provides models of individuals when they offer insights about the aggregate. The book explains the surprising answers that price theory can provide to practical questions about taxation, education, the housing market, government subsidies, and much more. Emphasizes the application of price theory, enabling students to learn by doing Features chapter-length examples such as addictive goods, urban-property pricing, the consequences of prohibition, and the value of a statistical life Supported by video lectures taught by Kevin M. Murphy and Gary Becker The video course enables students to learn the theory at home and practice the applications in the classroom
Book Synopsis Production Function by : Fouad Sabry
Download or read book Production Function written by Fouad Sabry and published by One Billion Knowledgeable. This book was released on 2024-02-04 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Multi-Output Production and Duality: Theory and Applications by : Rolf Färe
Download or read book Multi-Output Production and Duality: Theory and Applications written by Rolf Färe and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our original reason for writing this book was the desire to write down in one place a complete summary of the major results in du ality theory pioneered by Ronald W. Shephard in three of his books, Cost and Production Functions (1953), Theory of Cost and Produc tion Functions (1970), and Indirect Production Functions (1974). In this way, newcomers to the field would have easy access to these important ideas. In adg,ition, we report a few new results of our own. In particular, we show the duality relationship between the profit function and the eight equivalent representations of technol ogy that were elucidated by Shephard. However, in planning the book and discussing it with colleagues it became evident that such a book would be more useful if it also provided a number of applications of Shephard's duality theory to economic problems. Thus, we have also attempted to present exam ples of the use of duality theory in areas such as efficiency measure ment, index number theory, shadow pricing, cost-benefit analysis, and econometric estimation. Much of our thinking about duality theory and its uses has been influenced by our present and former collaborators. They include Charles Blackorby, Shawna Grosskopf, Knox Lovell, Robert Russell, and, not surprisingly, Ronald W. Shephard. We have also benefit ted over the years from many discussions with W. Erwin Diewert.
Book Synopsis Optimal Transport Methods in Economics by : Alfred Galichon
Download or read book Optimal Transport Methods in Economics written by Alfred Galichon and published by Princeton University Press. This book was released on 2018-08-14 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Optimal Transport Methods in Economics is the first textbook on the subject written especially for students and researchers in economics. Optimal transport theory is used widely to solve problems in mathematics and some areas of the sciences, but it can also be used to understand a range of problems in applied economics, such as the matching between job seekers and jobs, the determinants of real estate prices, and the formation of matrimonial unions. This is the first text to develop clear applications of optimal transport to economic modeling, statistics, and econometrics. It covers the basic results of the theory as well as their relations to linear programming, network flow problems, convex analysis, and computational geometry. Emphasizing computational methods, it also includes programming examples that provide details on implementation. Applications include discrete choice models, models of differential demand, and quantile-based statistical estimation methods, as well as asset pricing models. Authoritative and accessible, Optimal Transport Methods in Economics also features numerous exercises throughout that help you develop your mathematical agility, deepen your computational skills, and strengthen your economic intuition. The first introduction to the subject written especially for economists Includes programming examples Features numerous exercises throughout Ideal for students and researchers alike
Book Synopsis Production Economics by : Chauncey T. K. Ching
Download or read book Production Economics written by Chauncey T. K. Ching and published by Transaction Publishers. This book was released on 1985-01-01 with total page 422 pages. Available in PDF, EPUB and Kindle. Book excerpt: By combining information from microeconomics, mathematics, production functions, and temporal and spatial related production analyses, this book provides a variety of essential information to agricultural economics, economics, and business students. Empirical application of production theory and technique is presented at great length; actual data collected from various agricultural enterprises and experiments are used for production function analyses; and methodological and statistical problems commonly encountered in empirical research are carefully addressed. This book fulfills two great needs in the agricultural economics profession: a textbook suitable for senior-level and graduate students that develops and illustrates how calculus and linear algebra can be used in understanding production economics; and for a scholarly work that illustrates empirical applications and results of production function analyses and production theory.
