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A New Development In The Marginal Productivity Theory Of Factor Demand

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  • Robinson, Lindon J.

Abstract

This paper proves a new theory that achieves for all functions what Euler's *theorem does for linearly homogeneous functions; that is, it exhausts the output among the inputs. The resulting factor shares are shown to be consistent with the marginal productivity of factor demand.

Suggested Citation

  • Robinson, Lindon J., 1981. "A New Development In The Marginal Productivity Theory Of Factor Demand," 1981 Annual Meeting, July 26-29, Clemson, South Carolina 279308, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea81:279308
    DOI: 10.22004/ag.econ.279308
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    File URL: https://ageconsearch.umn.edu/record/279308/files/aaea-1980-065.pdf
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    References listed on IDEAS

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    1. Ikerd, John E., 1979. "Aaea Survey Of Annual Outlook Information," 1979 Annual Meeting, July 29-August 1, Pullman, Washington 278215, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Bruce L. Gardner, 1976. "Futures Prices in Supply Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 58(1), pages 81-84.
    3. Cassidy, P.A. & Rodgers, J.L. & McCarthy, W.O., 1970. "A Simulation Approach to Risk Assessment in Investment Analysis," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 38(01), pages 1-22, March.
    4. Jon A. Brandt & David A. Bessler, 1981. "Composite Forecasting: An Application with U.S. Hog Prices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 63(1), pages 135-140.
    5. Phoebus J. Dhrymes & E. Philip Howrey & Saul H. Hymans & Jan Kmenta & Edward E. Leamer & Richard E. Quandt & James B. Ramsey & Harold T. Shapiro & Victor Zarnowitz, 1972. "Criteria for Evaluation of Econometric Models," NBER Chapters, in: Annals of Economic and Social Measurement, Volume 1, number 3, pages 291-324, National Bureau of Economic Research, Inc.
    6. Ikerd, John E., 1978. "Aaea Survey Of Annual Outlook Information," 1978 Annual Meeting, August 6-9, Blacksburg, Virginia 283970, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    Full references (including those not matched with items on IDEAS)

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    Keywords

    Productivity Analysis;

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