Theory of Cost and Production Functions / / Ronald William Shephard.

• Superior document: Title is part of eBook package: De Gruyter Princeton Legacy Lib. eBook Package 1931-1979
• VerfasserIn: Shephard, Ronald William,
• Place / Publishing House: Princeton, NJ : : Princeton University Press, , [2015]; ©1971
• Year of Publication: 2015
• Language: English
• Series: Princeton Studies in Mathematical Economics ; 1605
• Physical Description: 1 online resource (322 p.)
• Other title: Frontmatter --; Preface --; Table of Contents --; Chapter 1. Introduction --; Chapter 2. The Producton Functon --; Chapter 3. The Distance Function of a Production Structure --; Chapter 4. The Factor Minimal Cost Function --; Chapter 5. The Cost Structure --; Chapter 6. The Aggregation Problem for Cost and Production Functions --; Chapter 7. The Price Minimal Cost Function --; Chapter 8. Duality of Cost and Production Structures and Related Functions --; Chapter 9. Production Correspondences --; Chapter 10. Cost and Benefit (Revenue) Functions for Production Correspondences, and the Related Cost, Benefit (Revenue), Cost-Limited-Output and Benefit (Revenue)-Afforded-Input Correspondences --; Chapter 11. Dualities for Production Correspondences --; Appendix 1. Mathematical Concepts and Theorems for Semi-Continuity and Quasi-Concavity (Convexity) --; Appendix 2. Mathematical Concepts and Propositions for Correspondences --; Appendix 3. Utility Functions --; Index
• Format: Mode of access: Internet via World Wide Web.
• ISBN: 9781400871087; 9783110426847; 9783110413601; 9783110665925; 9783110442496
• DOI: 10.1515/9781400871087
• Access: restricted access
• Hierarchical level: Monograph
• Statement of Responsibility: Ronald William Shephard.

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.