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Duality and Modern Economics - Richard Cornes

Duality and Modern Economics

Paperback Published: 6th July 1992
ISBN: 9780521336017
Number Of Pages: 308

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Dual arguments have become a standard tool for analysis of problems involving optimization by consumers and producers. The principal aim of this book is to provide a fairly systematic yet simple exposition of the basic structure of such arguments. The emphasis is not on providing mathematically general proofs; instead, a geometric approach is used to provide, in an informal way, an intuitive understanding of duality theory. This book introduces the most common alternative ways of representing preferences and technologies, such as indirect utility and distance functions, expenditure and cost functions, and profit and revenue functions. and it discusses the assumptions under which alternative formulations contain precisely the same information. Results such as Roy's identity. the Hotelling-Wold identity, and Shephard's lemma are fully explained. as are their roles in facilitating analysis of behaviour.

Some Background
Some formal preliminaries: An informal treatment
Modelling Individual Consumer and Producer Behaviour
Individual consumer behaviour: Direct and indirect utility functions
Individual consumer behaviour: Expenditure and distance functions
Individual consumer behavior: Further useful relationships and formulations
Producer behavior
Consumer and producer behaviour: More useful topics
Consumer theory with many constraints
Applying the Model of Individual Behaviour
Aggregation analysis
Consumer theory and welfare
Externalities and public goods
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521336017
ISBN-10: 0521336015
Audience: Tertiary; University or College
Format: Paperback
Language: English
Number Of Pages: 308
Published: 6th July 1992
Country of Publication: GB
Dimensions (cm): 22.28 x 15.27  x 1.75
Weight (kg): 0.4