An algebraic theory of multi-product decisions
AbstractWe exploit the existence of matrix group symmetries on a production possibility set to identify group symmetries on the profit function. The groups are isomorphic, and provide a pre-ordering on firm preferences over prices. Together with additional structure on the technology, symmetries generate comparative statics on price responses. Linear and other invariances place bounds on firm choice vectors. Reflection group asymmetries on the feasible choice set also support welfare rankings over prices. The methods are adapted to study consumer decisions. Copyright Springer-Verlag Berlin/Heidelberg 2005
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Bibliographic InfoArticle provided by Springer in its journal Economic Theory.
Volume (Year): 25 (2005)
Issue (Month): 4 (06)
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Web page: http://link.springer.de/link/service/journals/00199/index.htm
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- Hennessy, David A. & Lapan, Harvey E., 2006.
"Harmonic Symmetries of Imperfect Competition on Circular City,"
Staff General Research Papers
12551, Iowa State University, Department of Economics.
- Hennessy, David A. & Lapan, Harvey E., 2009. "Harmonic symmetries of imperfect competition on circular city," Journal of Mathematical Economics, Elsevier, vol. 45(1-2), pages 124-146, January.
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