Duality Theory for Variable Costs in Joint Production
Jeffrey LaFrance () and
Rulon Pope ()
Additional contact information
Rulon Pope: School of Economic Sciences, Washington State University
No 2009-02, Working Papers from School of Economic Sciences, Washington State University
Duality methods for incomplete systems of consumer demand equations are adapted to the dual structure of variable cost functions in joint production. This allows the identification of necessary and sufficient restrictions on technology and cost so that the conditional factor demands can be written as functions of input prices, fixed inputs, and cost. These are observable when the variable inputs are chosen and committed to production, hence the identified restrictions allow ex ante conditional demands to be studied using observable data. This class of production technologies is consistent with all von Neumann-Morgenstern utility functions when ex post production is uncertain.
Keywords: Joint production; variable cost; duality theory (search for similar items in EconPapers)
JEL-codes: C3 D2 D8 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-agr and nep-eff
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
http://faculty.ses.wsu.edu/WorkingPapers/LaFrance/WP2009-02-LP_DTiJP.pdf First version, 2008 (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found
Journal Article: Duality Theory for Variable Costs in Joint Production (2010)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:wsu:wpaper:lafrance-4
Access Statistics for this paper
More papers in Working Papers from School of Economic Sciences, Washington State University Contact information at EDIRC.
Bibliographic data for series maintained by Danielle Engelhardt ().