Technology Asymmetries, Group Algebra and Multi-Plant Cost Minimization

David Hennessy and Harvey Lapan

Staff General Research Papers Archive from Iowa State University, Department of Economics

Abstract: For a homogeneous good, this article studies firm-level production activities when the firm controls a plural number of plants. Through careful construction of cost function technology asymmetries, we inquire into the ordinal structure of the production vector for multiplant cost minimizers. When Schur-convexity of a reference pseudo-cost technology is the principal functional assumption, then ordinal concepts of technical asymmetries map into rank order on the equilibrium production vector. Under a more generalized characterization of the technical asymmetries a multiplant firm encounters, group theory is used to map a cardinal concept of asymmetries into cardinal bounds on the optimum allocation.

Date: 2003-01-01
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Published in Economic Inquiry, January 2003, vol. 41 no. 1, pp. 183-92

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Journal Article: Technology Asymmetries, Group Algebra, and Multiplant Cost Minimization (2003)
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