The Neoclassical Theory of Production and Distribution

C. E. Ferguson

doi:10.1017/CBO9780511896255

The object of this book is to present a complete, systematic and thorough exposition of the neoclassical theory of production and distribution. Despite this basic objective, each chapter presents extensions of neoclassical theory and interpretations of established relations. The book has two distinct parts. In Part I the microeconomic theories of production, cost and derived input demand are explored in depth for both fixed-proportions and variable-proportions production functions. Special emphasis is placed upon the characteristics and implications of production functions homogeneous of degree one. Part II is devoted chiefly to the neoclassical theory of aggregate relative factor shares, the elasticity of substitution, and technological progress.

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Contents

Frontmatter
pp i-iv
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Contents
pp v-xiv
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PREFACE
pp xv-xvi
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1 - INTRODUCTION
pp 1-12
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PART I - THE MICROECONOMIC THEORY OF PRODUCTION
pp 13-14
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2 - THE TECHNICAL THEORY OF PRODUCTION UNDER CONDITIONS OF FIXED PROPORTIONS
pp 15-46
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3 - THE ECONOMIC THEORY OF PRODUCTION UNDER CONDITIONS OF FIXED PROPORTIONS
pp 47-59
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4 - TECHNICAL ASPECTS OF CONTINUOUS PRODUCTION FUNCTIONS: GENERAL THEORY
pp 60-92
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5 - TECHNICAL ASPECTS OF CONTINUOUS PRODUCTION FUNCTIONS HOMOGENEOUS OF DEGREE ONE
pp 93-126
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6 - ECONOMIC THEORY OF PRODUCTION WITH FIXED INPUT PRICES
pp 127-153
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7 - THE THEORY OF COST WITH FIXED INPUT PRICES
pp 154-168
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8 - THE ECONOMIC THEORY OF COST AND PRODUCTION WITH VARIABLE INPUT PRICES
pp 169-186
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9 - ‘INFERIOR FACTORS’ AND THE THEORIES OF PRODUCTION AND INPUT DEMAND
pp 187-200
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10 - THEORY OF THE MULTI-PRODUCT FIRM
pp 201-212
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PART II - MACROECONOMIC THEORIES OF DISTRIBUTION AND TECHNOLOGICAL PROGRESS
pp 213-214
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11 - TECHNOLOGICAL PROGRESS AND THE NEOCLASSICAL THEORY OF PRODUCTION
pp 215-234
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12 - TECHNOLOGICAL PROGRESS AND THE NEOCLASSICAL THEORY OF DISTRIBUTION
pp 235-270
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13 - VINTAGE MODELS AND FIXED PROPORTIONS IN NEOCLASSICAL THEORY
pp 271-292
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14 - LEARNING BY DOING
pp 293-307
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15 - MONOPOLY AND AGGREGATE DEMAND AS DETERMINANTS OF RELATIVE FACTOR SHARES
pp 308-335
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16 - INDUCED BIAS OF INVENTION AND THE THEORY OF DISTRIBUTIVE SHARES
pp 336-364
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REFERENCES
pp 365-378
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AUTHOR INDEX
pp 379-381
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SUBJECT INDEX
pp 382-384
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The Neoclassical Theory of Production and Distribution

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Contents

Frontmatter
pp i-iv

Contents
pp v-xiv

PREFACE
pp xv-xvi

1 - INTRODUCTION
pp 1-12

PART I - THE MICROECONOMIC THEORY OF PRODUCTION
pp 13-14

2 - THE TECHNICAL THEORY OF PRODUCTION UNDER CONDITIONS OF FIXED PROPORTIONS
pp 15-46

3 - THE ECONOMIC THEORY OF PRODUCTION UNDER CONDITIONS OF FIXED PROPORTIONS
pp 47-59

4 - TECHNICAL ASPECTS OF CONTINUOUS PRODUCTION FUNCTIONS: GENERAL THEORY
pp 60-92

5 - TECHNICAL ASPECTS OF CONTINUOUS PRODUCTION FUNCTIONS HOMOGENEOUS OF DEGREE ONE
pp 93-126

6 - ECONOMIC THEORY OF PRODUCTION WITH FIXED INPUT PRICES
pp 127-153

7 - THE THEORY OF COST WITH FIXED INPUT PRICES
pp 154-168

8 - THE ECONOMIC THEORY OF COST AND PRODUCTION WITH VARIABLE INPUT PRICES
pp 169-186

9 - ‘INFERIOR FACTORS’ AND THE THEORIES OF PRODUCTION AND INPUT DEMAND
pp 187-200

10 - THEORY OF THE MULTI-PRODUCT FIRM
pp 201-212

PART II - MACROECONOMIC THEORIES OF DISTRIBUTION AND TECHNOLOGICAL PROGRESS
pp 213-214

11 - TECHNOLOGICAL PROGRESS AND THE NEOCLASSICAL THEORY OF PRODUCTION
pp 215-234

12 - TECHNOLOGICAL PROGRESS AND THE NEOCLASSICAL THEORY OF DISTRIBUTION
pp 235-270

13 - VINTAGE MODELS AND FIXED PROPORTIONS IN NEOCLASSICAL THEORY
pp 271-292

14 - LEARNING BY DOING
pp 293-307

15 - MONOPOLY AND AGGREGATE DEMAND AS DETERMINANTS OF RELATIVE FACTOR SHARES
pp 308-335

16 - INDUCED BIAS OF INVENTION AND THE THEORY OF DISTRIBUTIVE SHARES
pp 336-364

REFERENCES
pp 365-378

AUTHOR INDEX
pp 379-381

SUBJECT INDEX
pp 382-384

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