Chapter

Measuring the Quantities of Fixed Factors

W. M. Gorman

Edited by C. Blackorby and A. F. Shorrocks

in Separability and Aggregation

Published in print January 1996 | ISBN: 9780198285212
Published online November 2003 | e-ISBN: 9780191596322 | DOI: http://dx.doi.org/10.1093/0198285213.003.0019
 Measuring the Quantities of Fixed Factors

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This paper appeared in the Hicks Festschrift in 1968 (Value, Capital and Growth: Essays in Honour of Sir John Hicks, ed. J. N. Wolfe. Edinburgh: Edinburgh University Press). It is a substantial generalization of ’Capital aggregation in vintage models’ (Ch. 18) and is mathematically somewhat more elegant. This time the problem is posed in terms of gross profit functions and technology sets. In addition, the problem is solved for arbitrary numbers of aggregates––a problem only touched upon in Ch. 18.

Keywords: aggregates; aggregation; capital aggregation; fixed factors; gross profit functions; technology sets; vintage models

Chapter.  16866 words. 

Subjects: Microeconomics

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