Representations and Identities for Homogeneous Technologies

28 Pages Posted: 29 Sep 2009 Last revised: 3 Oct 2009

See all articles by Miguel Andrés Espinosa

Miguel Andrés Espinosa

Universidad de los Andes, Colombia - Department of Economics

Pietro Bonaldi

University of Chicago

Hernan Vallejo

Universidad de los Andes

Date Written: June 10, 2008

Abstract

Using up to nine different ways to represent a homogeneous technology, this paper proves explicit one to one identities between most of those different representations of a technology, 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 document 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 demand functions.

Keywords: Identities, homogeneous production functions and firm theory

JEL Classification: D20, D21, D24

Suggested Citation

Espinosa, Miguel Andrés and Bonaldi, Pietro and Vallejo, Hernan, Representations and Identities for Homogeneous Technologies (June 10, 2008). Available at SSRN: https://ssrn.com/abstract=1480256 or http://dx.doi.org/10.2139/ssrn.1480256

Miguel Andrés Espinosa (Contact Author)

Universidad de los Andes, Colombia - Department of Economics ( email )

Carrera 1a No. 18A-10
Santafe de Bogota, AA4976
Colombia

Pietro Bonaldi

University of Chicago ( email )

Hernan Vallejo

Universidad de los Andes ( email )

Carrera 1a No. 18A-10
Bogota
Colombia
57-1-3394949 (Phone)
57-1-3324492 (Fax)

HOME PAGE: http://economia.uniandes.edu.co/vallejo

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