Duality Theory and Value Constraint

Rolf Fare and James Logan

Scottish Journal of Political Economy, 1993, vol. 40, issue 3, 330-34

Abstract: In this paper, the authors generalize the quantity rationing problem and assume that, rather than quantities being constrained, the decisionmaker has to spend a certain amount on some goods. They show that the cost function inferred from this model need not be quasi-concave in prices. The authors end the paper by showing how a duality theory may be developed under these conditions. Copyright 1993 by Scottish Economic Society.

Date: 1993
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Scottish Journal of Political Economy is currently edited by Tim Barmby, Andrew Hughes-Hallett and Campbell Leith

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