Cost minimization of nonconvex firms under prices in normal cones.

Clarke's normal cone has been frequently used to formulate the marginal cost pricing rule for nonconvex firms. I provide examples where a firm with convex iso-output sets is not minimizing its cost at a price vector in the normal cone. For a firm to be cost minimizing under any price in the normal...

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Publicado en:	International Economic Review Vol. 35; pp. 1019 - 1029
Autor principal:	Ishimoto, Osamu
Formato:	Artículo
Publicado:	Wiley-Blackwell November 1994
Materias:	Mathematical models Marginal pricing Production functions (Economic theory) Resource allocation > Mathematical models Welfare economics
Acceso en línea:	Ver este registro en EBSCOhost