Lee Ines NicoleSmall 'y' = production plan
Big 'Y' = production possibilities set
Lee Ines NicoleV(y) = input requirement set
V(y) measures inputs as positive, not negative, numbers
Lee Ines NicoleConvexity of input requirements set
Lee Ines NicoleSOCs for profit max'zn
Lee Ines NicoleCD production fct
Lee Ines NicoleHOD 0 Property
Lee Ines NicoleHOD 0 is necessary condition for profit maxim'zn.
Lee Ines Nicole?? How to deduce from this that Hessian Matrix is strictly ND?
Lee Ines NicoleProperties of the substitution matrix
Lee Ines NicoleWAPM
Lee Ines NicoleImplications of WAPM
Lee Ines NicoleRecoverability: constructing a technology consistent with the observed choices.
If a set of data satisfies WAPM, we can always find a technology for which the observed choices are profit-maximizing.
Lee Ines NicoleProperties of the Profit Function
Lee Ines NicoleHotelling's Lemma
Lee Ines NicoleApplying the envelope theorem to derive Hotelling's lemma
Lee Ines NicoleWhy matrix of derivatives of y is symmetric and PSD.
Lee Ines NicoleLee Ines Nicole 15 December, 2014 8:50 PM
Lee Ines NicoleCD example
Lee Ines NicoleCES example
Lee Ines NicoleConditional Factor Demand
Lee Ines NicoleProof that the conditional factor demand curve slopes downwards.
Lee Ines NicolePrinciple of duality: any concept defined in terms of the properties of the production function has a "dual" definition in terms of the properties of the cost function and vice versa.
Lee Ines NicoleMoney Metric Utility Functions