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Technology Asymmetries, Group Algebra and Multi-Plant Cost Minimization

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  • Hennessy, David A.
  • Lapan, Harvey E.

Abstract

For a homogeneous good, this article studies firm-level production activities when the firm controls a plural number of plants. Through careful construction of cost function technology asymmetries, we inquire into the ordinal structure of the production vector for multiplant cost minimizers. When Schur-convexity of a reference pseudo-cost technology is the principal functional assumption, then ordinal concepts of technical asymmetries map into rank order on the equilibrium production vector. Under a more generalized characterization of the technical asymmetries a multiplant firm encounters, group theory is used to map a cardinal concept of asymmetries into cardinal bounds on the optimum allocation.

Suggested Citation

  • Hennessy, David A. & Lapan, Harvey E., 2003. "Technology Asymmetries, Group Algebra and Multi-Plant Cost Minimization," Staff General Research Papers Archive 5103, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genres:5103
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    Cited by:

    1. David A. Hennessy & Harvey E. Lapan, 2003. "Taste Asymmetries and Trade Patterns," Economics Bulletin, AccessEcon, vol. 4(28), pages 1-14.
    2. Yuya Sasaki & Arthur Caplan, 2008. "Matching Heterogeneous Traders in Quantity-Regulated Markets," Computational Economics, Springer;Society for Computational Economics, vol. 31(4), pages 341-362, May.

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