Bruce R. Beattie

Alston, Julian M., George W. Norton, and Philip G. Pardey. Science Under Scarcity: Principles and Practice for Agricultural Research Evaluation and Priority Setting. Ithaca NY: Cornell University Press, 1995, xxxiii + 585 pp., cloth, price unknown

Science under scarcity :principles and practice for agricultural research evaluation and priority setting , Science under scarcity :principles and practice for agricultural research evaluation and priority se... , مرکز فناوری اطلاعات و اطلاع رسانی کشاورزی

On the Function Coefficient, Euler's Theorem, and Homogeneity in Production Theory

This paper makes three related points useful in teaching first-year graduate production theory. First, the local applicability of the classical function coefficient idea for short-run nonhomogeneous production technologies is shown for returns to scale, satisfaction of second-order and total conditions for profit maximization, and delineation of the economic region of production in factor space. Second, the general applicability of Eulers Theorem results to nonhomogeneous (variable-proportional-return) cases is developed. Lastly, it is shown that short-run, nonhomogeneous production/yield functions are fully consistent with long-run linear homogeneity.