Investment and Production: A Study in the Theory of the Capital-Using Enterprise

Vernon L. Smith

Anno: 1974
Rilegatura: Hardback
Pagine: 352 p.
Testo in English
Peso: 544 gr.
  • EAN: 9780674465008
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Descrizione
Developing a unified theory of production and investment, Vernon L. Smith explores the empirical and theoretical nature of the interdependence between "short-run" current account production decisions and "long-run" investment planning, taking into account such technological factors as equipment replacement. The book builds an explicit theory of production planning by integrating production, investment, and equipment replacement policy, derives the decision implications of the use of durable capital goods, and examines the production function concept and the production decision process in engineering design and in general business practice.