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Representations and Identities for homogeneous Technologies

Listed author(s):
  • Miguel Espinosa

    ()

  • Pietro Bonaldi

    ()

  • Hernán Vallejo

    ()

Using up to nine different ways to represent a homogeneous technology, this paper proves explicit one to one identities between most of those different representations of a technology, 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 forhomogeneous technologies. They can also be useful to simplify computational procedures when different representations of a technology are needed. Finally, the document 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 demandfunctions.

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File URL: http://economia.uniandes.edu.co/publicaciones/dcede2008-08.pdf
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Paper provided by UNIVERSIDAD DE LOS ANDES-CEDE in its series DOCUMENTOS CEDE with number 004974.

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Length: 28
Date of creation: 09 Jun 2008
Handle: RePEc:col:000089:004974
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  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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.
  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, December.
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