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Dynamic Factor Demands Using Intertemporal Duality

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  • Larson, Bruce A.

Abstract

Intertemporal duality can be used for empirical research to derive a system of optimal choice functions (dynamic factor demands and output supplies) consistent with an explicity dynamic optimization framework While the literature on intertemporal duality focuses on infinite-horizon autonomous problems, many applied problems cannot be analyzed within this framework This article uses intertemporal duality to specify a system of optimal choice functions for a broader and less restrictive set of intertemporal planning problems

Suggested Citation

  • Larson, Bruce A., 1988. "Dynamic Factor Demands Using Intertemporal Duality," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 41(1), pages 1-6.
    • Handle: RePEc:ags:uersja:137664
    DOI: 10.22004/ag.econ.137664
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    References listed on IDEAS

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    1. Ramon E. Lopez, 1985. "Supply Response and Investment in the Canadian Food Processing Industry," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(1), pages 40-48.
    2. Chambers, Robert G. & Lopez, Ramon E., 1984. "A General, Dynamic, Supply-Response Model," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 13(2), pages 1-13, October.
    3. McLaren, Keith R & Cooper, Russel J, 1980. "Intertemporal Duality: Application to the Theory of the Firm," Econometrica, Econometric Society, vol. 48(7), pages 1755-1762, November.
    4. Larry G. Epstein, 1981. "Duality Theory and Functional Forms for Dynamic Factor Demands," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 48(1), pages 81-95.
    5. Burgess, David F., 1975. "Duality theory and pitfalls in the specification of technologies," Journal of Econometrics, Elsevier, vol. 3(2), pages 105-121, May.
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