Inferring agent behavior and economic information, with free entry and exit of firms
This article proposes an identity regarding economic outcomes when producers maximize profits, with free entry and exit of firms. The identity links consumer and producer theory and leads to several results that contribute to understand what should -and should not- be expected under the assumptions...
- Autores:
-
Vallejo González, Hernán Eduardo
Espinosa Farfán, Miguel Andrés
- Tipo de recurso:
- Work document
- Fecha de publicación:
- 2011
- Institución:
- Universidad de los Andes
- Repositorio:
- Séneca: repositorio Uniandes
- Idioma:
- eng
- OAI Identifier:
- oai:repositorio.uniandes.edu.co:1992/8256
- Acceso en línea:
- http://hdl.handle.net/1992/8256
- Palabra clave:
- Price elasticity of demand
Elasticity of scale
Free entry and exit of firms
Homogeneous production function
Elasticidad (Economía)
Demanda (Teoría económica)
D20, D21, D24, D40
- Rights
- openAccess
- License
- http://creativecommons.org/licenses/by-nc-nd/4.0/
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Al consultar y hacer uso de este recurso, está aceptando las condiciones de uso establecidas por los autores.http://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2Vallejo González, Hernán Eduardoe2ed34aa-da8f-4dcc-9814-04b1d8459b4a500Espinosa Farfán, Miguel Andrésbc0ae1b2-2ad6-4a4a-8fd8-313fe8f6e71c5002018-09-27T16:51:37Z2018-09-27T16:51:37Z20111657-5334http://hdl.handle.net/1992/82561657-719110.57784/1992/8256instname:Universidad de los Andesreponame:Repositorio Institucional Sénecarepourl:https://repositorio.uniandes.edu.co/This article proposes an identity regarding economic outcomes when producers maximize profits, with free entry and exit of firms. The identity links consumer and producer theory and leads to several results that contribute to understand what should -and should not- be expected under the assumptions made, from the behavior of firms and households, and from the technology of a firm. Given that unit prices are usually known, the identity also allows to infer the value of a range of economic variables, when reasonable information is available on the price elasticity of the residual demand, the marginal revenue associated to the residual demand, the marginal cost or the elasticity of scale.Este artículo propone una identidad que relaciona resultados económicos cuando los productores maximizan ganancias, con libre entrada y salida de firmas. La identidad relaciona la teoría del hogar y la teoría de la firma y arroja resultados que contribuyen a entender bajo los supuestos, lo que se debería -y lo que no se debería- esperar del comportamiento de las firmas y de los hogares, y de la tecnología de las firmas. Dado que los precios unitarios usualmente se conocen, la identidad también permite inferir el valor de una serie de variables económicas, cuando se dispone de información suficientemente precisa sobre la elasticidad de la demanda residual, el ingreso marginal asociado a la demanda residual, el costo marginal o la elasticidad de escala.5 páginasapplication/pdfengUniversidad de los Andes, Facultad de Economía, CEDEDocumentos CEDE No. 25 Junio de 2011https://ideas.repec.org/p/col/000089/008909.htmlInferring agent behavior and economic information, with free entry and exit of firmsInfiriendo comportamiento de agentes e información económica, con libre entrada y salida de firmasDocumento de trabajoinfo:eu-repo/semantics/workingPaperhttp://purl.org/coar/resource_type/c_8042http://purl.org/coar/version/c_970fb48d4fbd8a85Texthttps://purl.org/redcol/resource_type/WPPrice elasticity of demandElasticity of scaleFree entry and exit of firmsHomogeneous production functionElasticidad (Economía)Demanda (Teoría económica)D20, D21, D24, D40Facultad de EconomíaPublicationTHUMBNAILdcede2011-25.pdf.jpgdcede2011-25.pdf.jpgIM Thumbnailimage/jpeg3498https://repositorio.uniandes.edu.co/bitstreams/5807c5ca-dfd6-4100-866a-222cdf7b32a8/download55d7824ce5485757136a76e30b307ed1MD55TEXTdcede2011-25.pdf.txtdcede2011-25.pdf.txtExtracted texttext/plain10492https://repositorio.uniandes.edu.co/bitstreams/b37e6902-2194-4d52-9449-b6ea9ee5ca83/download872e2a5cfb6019633b3599841818b84dMD54ORIGINALdcede2011-25.pdfdcede2011-25.pdfapplication/pdf665551https://repositorio.uniandes.edu.co/bitstreams/79691711-ddde-4606-b837-7e81254354ac/downloadae009396c7a8a7ae5146ab530ca9bed5MD511992/8256oai:repositorio.uniandes.edu.co:1992/82562024-06-04 15:48:43.574http://creativecommons.org/licenses/by-nc-nd/4.0/open.accesshttps://repositorio.uniandes.edu.coRepositorio institucional Sénecaadminrepositorio@uniandes.edu.co |
| dc.title.none.fl_str_mv |
Inferring agent behavior and economic information, with free entry and exit of firms |
| dc.title.alternative.none.fl_str_mv |
Infiriendo comportamiento de agentes e información económica, con libre entrada y salida de firmas |
| title |
Inferring agent behavior and economic information, with free entry and exit of firms |
| spellingShingle |
Inferring agent behavior and economic information, with free entry and exit of firms Price elasticity of demand Elasticity of scale Free entry and exit of firms Homogeneous production function Elasticidad (Economía) Demanda (Teoría económica) D20, D21, D24, D40 |
| title_short |
Inferring agent behavior and economic information, with free entry and exit of firms |
| title_full |
Inferring agent behavior and economic information, with free entry and exit of firms |
| title_fullStr |
Inferring agent behavior and economic information, with free entry and exit of firms |
| title_full_unstemmed |
Inferring agent behavior and economic information, with free entry and exit of firms |
| title_sort |
Inferring agent behavior and economic information, with free entry and exit of firms |
| dc.creator.fl_str_mv |
Vallejo González, Hernán Eduardo Espinosa Farfán, Miguel Andrés |
| dc.contributor.author.none.fl_str_mv |
Vallejo González, Hernán Eduardo Espinosa Farfán, Miguel Andrés |
| dc.subject.keyword.none.fl_str_mv |
Price elasticity of demand Elasticity of scale Free entry and exit of firms Homogeneous production function |
| topic |
Price elasticity of demand Elasticity of scale Free entry and exit of firms Homogeneous production function Elasticidad (Economía) Demanda (Teoría económica) D20, D21, D24, D40 |
| dc.subject.armarc.none.fl_str_mv |
Elasticidad (Economía) Demanda (Teoría económica) |
| dc.subject.jel.none.fl_str_mv |
D20, D21, D24, D40 |
| description |
This article proposes an identity regarding economic outcomes when producers maximize profits, with free entry and exit of firms. The identity links consumer and producer theory and leads to several results that contribute to understand what should -and should not- be expected under the assumptions made, from the behavior of firms and households, and from the technology of a firm. Given that unit prices are usually known, the identity also allows to infer the value of a range of economic variables, when reasonable information is available on the price elasticity of the residual demand, the marginal revenue associated to the residual demand, the marginal cost or the elasticity of scale. |
| publishDate |
2011 |
| dc.date.issued.none.fl_str_mv |
2011 |
| dc.date.accessioned.none.fl_str_mv |
2018-09-27T16:51:37Z |
| dc.date.available.none.fl_str_mv |
2018-09-27T16:51:37Z |
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Documento de trabajo |
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http://purl.org/coar/version/c_970fb48d4fbd8a85 |
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info:eu-repo/semantics/workingPaper |
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http://purl.org/coar/resource_type/c_8042 |
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Text |
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https://purl.org/redcol/resource_type/WP |
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http://purl.org/coar/resource_type/c_8042 |
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1657-5334 |
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http://hdl.handle.net/1992/8256 |
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1657-7191 |
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10.57784/1992/8256 |
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instname:Universidad de los Andes |
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reponame:Repositorio Institucional Séneca |
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http://hdl.handle.net/1992/8256 |
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eng |
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eng |
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Documentos CEDE No. 25 Junio de 2011 |
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https://ideas.repec.org/p/col/000089/008909.html |
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http://creativecommons.org/licenses/by-nc-nd/4.0/ |
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info:eu-repo/semantics/openAccess |
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openAccess |
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5 páginas |
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application/pdf |
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Universidad de los Andes, Facultad de Economía, CEDE |
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Universidad de los Andes, Facultad de Economía, CEDE |
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