Production Economics: An Empirical Approach
Regular price
€167.40
14 days return policy
Shipping & Delivery
A01=Charles Britt Moss
Author_Charles Britt Moss
Category=KCC
Differential Approach
Dual Approach
Econometrics
Economic Efficiency
eq_bestseller
eq_business-finance-law
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
Primal Approach
Producer Behaviour
Production Economics
Product details
- ISBN 9789811238864
- Publication Date: 30 Mar 2022
- Publisher: World Scientific Publishing Co Pte Ltd
- Publication City/Country: SG
- Product Form: Hardback
Secure
checkout
Fast Shipping
Easy returns
Production economics is that branch of microeconomics that examines producer decisions. This book focuses on the empirical estimation of these relationships using primal, dual, and differential specifications. The primal specification models production decisions based on the production function — estimation of the input/output relationship and the derivation of optimization behavior from this technical relationship. The dual approach estimates production decisions using economic information such as input and output prices. The textbook then develops the linkages between these relationships. The differential specification is an alternative approach derived from changes in the first-order conditions from cost minimizing behavior. In each case, the theoretical development is followed by different empirical specifications that can be used to estimate the producer's choice.
