Abstract
An Interesting application of the propositions related to homothetlc production functions may be made to the dynamics of monopoly as formulated by G. C. Evans.21 Similar constructions are possible for the other economic variational problems of Evans and to the analogous dynamic theory of competition as formulated by Roos,22 but we shall restrict ourselves here to the monopoly problem for the purpose of illustrating the way in which our theory of cost and production functions may serve to broaden the basis of these mathematical economic formulations.
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References
See: E. L. Ince, Ordinary Differential Equations. New York: Dover Publications. Chapters VIII, IX, and XI.
See G. C. Evans: Mathematical Introduction to Economics, pp. 144, 145.
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© 1981 Ronald W. Shephard
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Shephard, R.W. (1981). Dynamics of Monopoly Under Homothetic Production Function. In: Cost and Production Functions. Lecture Notes in Economics and Mathematical Systems, vol 194. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-51578-1_10
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DOI: https://doi.org/10.1007/978-3-642-51578-1_10
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-11158-0
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