Dynamic Indirect Production Functions.
Abstract
A dynamic framework is used for production correspondences in which n-vectors of input functions are taken from (L(From + to infinity) (to the Nth Power)), with components which are Lebesgue measurable, and bounded except for a subset of measure zero. With these parent correspondences, a cost-indirect and return-indirect production correspondence is formulated, using a weak star topology for (L(From + to infinity) (To the Nth Power)) which norms vectors of input functions in terms of the cost of a vector over a finite span (O,T), with vectors p of Lebesgue integrable price functions taken from (L(From + to 1)(To the NthPower)). The properties of these indirect production correspondences are developed, and special forms under homotheticity of structure are used to determine index functions for dynamic aggregate expression of direct and indirect production functions. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Jul 01, 1976
- Accession Number
- ADA029742
Entities
People
- Ronald Shephard
Organizations
- University of California, Berkeley