Abstract:
This article extends the theory of the firm to cover situations in which the firm's technology set is conditional on expected prices. A 'generalized ' price effect is obtained that includes the traditional price effect as well as the technical change effect of prices. An example is presented.
Keywords:Conditional technology; market prices; normal prices; technical change. (search for similar items in EconPapers) JEL-codes:Q (search for similar items in EconPapers) Date: 2005-03-05 Note: Type of Document - pdf; pages: 12. Journal of Agricultural and Resource Economics, 1994, 19(1)161-172