Ebook: Fundamentals of Production Theory

This graduate text develops production theory from a set of reasonable axioms. The theory is presented both in a primal and dual as well as in an indirect (constrained) framework. The basic model leads to a set of efficiency measures which can be readily employed in empirical work. A first draft of the text was used to teach students at Vanderbilt University. The text includes a variety of exercise problems.

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This graduate text develops production theory from a set of reasonable axioms. The theory is presented both in a primal and dual as well as in an indirect (constrained) framework. The basic model leads to a set of efficiency measures which can be readily employed in empirical work. A first draft of the text was used to teach students at Vanderbilt University. The text includes a variety of exercise problems.

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This graduate text develops production theory from a set of reasonable axioms. The theory is presented both in a primal and dual as well as in an indirect (constrained) framework. The basic model leads to a set of efficiency measures which can be readily employed in empirical work. A first draft of the text was used to teach students at Vanderbilt University. The text includes a variety of exercise problems.
Content:
Front Matter....Pages I-IX
Introduction....Pages 1-2
The Production Structure....Pages 3-21
Representing the Technology by Functions....Pages 22-42
Special Production Structures....Pages 43-61
Input Quantity Restricted Production....Pages 62-80
Cost, Revenue and Duality....Pages 81-104
Cost and Revenue Restricted Production....Pages 105-116
Towards A Dynamic Theory of Production....Pages 117-126
Performance Gauging....Pages 127-148
Back Matter....Pages 149-163

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This graduate text develops production theory from a set of reasonable axioms. The theory is presented both in a primal and dual as well as in an indirect (constrained) framework. The basic model leads to a set of efficiency measures which can be readily employed in empirical work. A first draft of the text was used to teach students at Vanderbilt University. The text includes a variety of exercise problems.
Content:
Front Matter....Pages I-IX
Introduction....Pages 1-2
The Production Structure....Pages 3-21
Representing the Technology by Functions....Pages 22-42
Special Production Structures....Pages 43-61
Input Quantity Restricted Production....Pages 62-80
Cost, Revenue and Duality....Pages 81-104
Cost and Revenue Restricted Production....Pages 105-116
Towards A Dynamic Theory of Production....Pages 117-126
Performance Gauging....Pages 127-148
Back Matter....Pages 149-163
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