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Representations and Identities for Homogeneous Technologies

Author

Listed:
  • Espinosa Miguel

    () (Universidad de los Andes)

  • Bonaldi Pietro

    () (Banco de la República)

  • Vallejo Hernán

    () (Universidad de los Andes)

Abstract

Using up to nine different ways to represent homogeneous technologies with decreasing returns to scale, this article presents and proves identities between those different representations of such technologies, outlining the homogeneity properties of each representation. These identities, which allow to shift from one representation of a technology to another -- and which are summarized in a matrix of identities -- can be useful since they provide a tool to obtain explicit functional forms for homogeneous technologies. They can also be useful to simplify computational procedures when different representations of a technology are needed. Finally, the article also refers explicitly to some aspects of producer theory that are often neglected or treated in a marginal way in the literature, such as the inverse supply, the non conditional cost and the inverse input demands functions.

Suggested Citation

  • Espinosa Miguel & Bonaldi Pietro & Vallejo Hernán, 2009. "Representations and Identities for Homogeneous Technologies," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 9(1), pages 1-25, September.
  • Handle: RePEc:bpj:bejtec:v:9:y:2009:i:1:n:29
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    References listed on IDEAS

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    1. Larry Epstein, 1978. "Production Flexibility and the Behaviour of the Competitive Firm under Price Uncertainty," Review of Economic Studies, Oxford University Press, vol. 45(2), pages 251-261.
    2. Diewert, W E, 1974. "Functional Forms for Revenue and Factor Requirements Functions," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 15(1), pages 119-130, February.
    3. Fare, Rolf & Mitchell, Thomas M, 1989. " A Family Tree of Linearly Homogeneous Production Functions," Scandinavian Journal of Economics, Wiley Blackwell, vol. 91(4), pages 749-757.
    4. Ardeshir Dalal, 2000. "Strict concavity with homogeneity and decreasing returns to scale," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 28(3), pages 381-382, September.
    5. Dale W. Jorgenson & Lawrence J. Lau, 1974. "The Duality of Technology and Economic Behaviour," Review of Economic Studies, Oxford University Press, vol. 41(2), pages 181-200.
    6. Fuss, Melvyn & McFadden, Daniel, 1978. "Production Economics: A Dual Approach to Theory and Applications (I): The Theory of Production," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, volume 1, number fuss1978.
    7. Harold Hotelling, 1932. "Edgeworth's Taxation Paradox and the Nature of Demand and Supply Functions," Journal of Political Economy, University of Chicago Press, vol. 40, pages 577-577.
    8. Deaton,Angus & Muellbauer,John, 1980. "Economics and Consumer Behavior," Cambridge Books, Cambridge University Press, number 9780521296762, April.
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    Cited by:

    1. Appelbaum, Elie & Harris, Richard, 1977. "Estimating Technology in an Intertemporal Framework: A Neo-Austrian Approach," The Review of Economics and Statistics, MIT Press, vol. 59(2), pages 161-170, May.

    More about this item

    JEL classification:

    • D20 - Microeconomics - - Production and Organizations - - - General
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

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