| Multi-Output Production and Duality: Theory and Applications 1995 Edition Contributor(s): Färe, Rolf (Author), Primont, Daniel (Author) |
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ISBN: 0792395182 ISBN-13: 9780792395188 Publisher: Springer OUR PRICE: $161.49 Product Type: Hardcover - Other Formats Published: December 1994 Annotation: This book presents a complete summary of the major results in duality theory pioneered by Ronald W. Shephard. Building on this base, the authors present new findings including the duality relationship between the profit function and the eight equivalent representations of technology that were elucidated by Shephard. Finally, the book provides a number of applications of duality theory to economic problems. These include efficiency measurement, index number theory, shadow pricing, cost-benefit analysis, and econometric estimation. |
| Additional Information |
| BISAC Categories: - Business & Economics | Industries - General - Business & Economics | Economics - Microeconomics - Business & Economics | Economics - Theory |
| Dewey: 338 |
| LCCN: 94037152 |
| Physical Information: 0.65" H x 6.5" W x 9.64" (1.05 lbs) 172 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: 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. |