Theory of Cost and Production Functions

Delve into the intricacies of economic theory with Theory of Cost and Production Functions by Ronald William Shepherd, published by Princeton University Press in 2016. Spanning 322 pages, this book serves as a vital sequel to Shepherd's highly regarded work, Cost and Production Functions (1953). It presents a unified and comprehensive exploration of cost and production functions, fundamental concepts that underpin the economic theory of production.

Emphasizing an axiomatic approach, Shepherd defines technology through intricate mappings of input vectors into subsets of output vectors. This insightful analysis is essential for students, researchers, and professionals in the fields of economics and industrial studies. Whether you are looking to deepen your understanding or seeking a valuable resource for academic purposes, this book is an essential addition to your collection.