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The B.E. Journal of Theoretical Economics

Editor-in-Chief: Schipper, Burkhard

Ed. by Fong, Yuk-fai / Peeters, Ronald / Puzzello , Daniela / Rivas, Javier / Wenzelburger, Jan


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Online
ISSN
1935-1704
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Representations and Identities for Homogeneous Technologies

Miguel Espinosa1 / Pietro Bonaldi2 / Hernán Vallejo3

1Universidad de los Andes,

2Banco de la República,

3Universidad de los Andes,

Citation Information: The B.E. Journal of Theoretical Economics. Volume 9, Issue 1, ISSN (Online) 1935-1704, DOI: 10.2202/1935-1704.1573, September 2009

Publication History

Published Online:
2009-09-27

Using up to nine different ways to represent homogeneous technologies with decreasing returns to scale, this article presents and proves identities between those different representations of such technologies, outlining the homogeneity properties of each representation. These identities, which allow to shift from one representation of a technology to another -- and which are summarized in a matrix of identities -- can be useful since they provide a tool to obtain explicit functional forms for homogeneous technologies. They can also be useful to simplify computational procedures when different representations of a technology are needed. Finally, the article also refers explicitly to some aspects of producer theory that are often neglected or treated in a marginal way in the literature, such as the inverse supply, the non conditional cost and the inverse input demands functions.

Keywords: identities; homogeneous production functions and firm theory

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