Investment and Production
A Study in the Theory of the Capital-Using Enterprise
By (author) Vernon L. Smith
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Investment and Production by Vernon L. Smith
Book DescriptionDeveloping 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."
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Book DetailsISBN: 9780674465008
(275mm x 150mm x 23mm)
Imprint: Harvard University Press
Publisher: Harvard University Press
Publish Date: 1-Dec-1961
Country of Publication: United States
Books By Author Vernon L. Smith
Rethinking Housing Bubbles, Hardback (May 2014)
Steven D. Gjerstad and Nobel Laureate Vernon L. Smith demonstrate the critical role that household and bank balance sheets play in economic cycles.
Rationality in Economics, Paperback (October 2009)
This book explores constructivist and ecological approaches to rationality in economics.
Handbook of Experimental Economics Results, Hardback (January 2008)» View all books by Vernon L. Smith
Experimental methods in economics respond to circumstances that are not completely dictated by accepted theory or outstanding problems. This book reflects the spirit of adventure that experimentalists share and focuses on experiments in general rather than forcing an organization into traditional categories that do not fit.
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