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.
- ISBN13 9780521332910
- Publish Date 28 February 1992
- Publish Status Inactive
- Out of Print 25 June 2008
- Publish Country GB
- Imprint Cambridge University Press
- Format Hardcover
- Pages 304
- Language English