We consider a production economy where commodities are partitioned into irreproducible factors and reproducible goods, and the production technologies have constant returns to scale. We examine the geometry of the efficient frontier of the global production set and derive theorems of nonsubstitution type. We complement the geometric viewpoint by an algebraic characterization of the efficient frontier, that put emphasis on the "factors values" of goods. We analyse the connections between the prices of goods and the prices of factors. In particular, we show that if the number of goods is at least twice as large as the number of factors, then, generically, the prices of goods uniquely determine the prices of factors.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.: