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Essays in the theory and application of duality in economics Appelbaum, Eliezer
Abstract
This thesis focusses on three areas in the theory and application of duality in economics. First, I integrate duality and dynamic optimization theories in the context of optimal economic growth. I demonstrate the possibility of control through prices and the equivalence of the centralized and decentralized solutions. To develop the dynamic duality relation I apply the duality between production possibilities sets and profit functions. An application is also given in the context of investment theory. Second, I develop, discuss and interpret tests for the static duality theory. Finally, I drop the perfect competition assumption and apply duality to the theory of a non-competitive firm. I investigate the extent to which the propositions in duality theory remain valid for non-competitive firms and provide a framework that permits the identification of different market structures. Within this framework I estimate the technology of a monopolistic industry and test for the price taking behaviour hypothesis.
Item Metadata
Title |
Essays in the theory and application of duality in economics
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Creator | |
Publisher |
University of British Columbia
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Date Issued |
1975
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Description |
This thesis focusses on three areas in the theory and application of duality in economics. First, I integrate duality and dynamic optimization theories in the context of optimal economic growth. I demonstrate the possibility of control through prices and the equivalence of the centralized and decentralized solutions. To develop the dynamic duality relation I apply the duality between production possibilities sets and profit functions. An application is also given in the context of investment theory. Second, I develop, discuss and interpret tests for the static duality theory. Finally, I drop the perfect competition assumption and apply duality to the theory of a non-competitive firm. I investigate the extent to which the propositions in duality theory remain valid for non-competitive firms and provide a framework that permits the identification of different market structures. Within this framework I estimate the technology of a monopolistic industry and test for the price taking behaviour hypothesis.
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Genre | |
Type | |
Language |
eng
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Date Available |
2010-02-05
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Provider |
Vancouver : University of British Columbia Library
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Rights |
For non-commercial purposes only, such as research, private study and education. Additional conditions apply, see Terms of Use https://open.library.ubc.ca/terms_of_use.
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DOI |
10.14288/1.0100052
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URI | |
Degree | |
Program | |
Affiliation | |
Degree Grantor |
University of British Columbia
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Campus | |
Scholarly Level |
Graduate
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Aggregated Source Repository |
DSpace
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Item Media
Item Citations and Data
Rights
For non-commercial purposes only, such as research, private study and education. Additional conditions apply, see Terms of Use https://open.library.ubc.ca/terms_of_use.