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Joint production model: A note on a connection between market prices and CP anchor values
Author(s) -
Ballestero Enrique
Publication year - 1994
Publication title -
journal of multi‐criteria decision analysis
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.462
H-Index - 47
eISSN - 1099-1360
pISSN - 1057-9214
DOI - 10.1002/mcda.4020030206
Subject(s) - profit (economics) , production (economics) , joint (building) , economics , connection (principal bundle) , industrial organization , microeconomics , property (philosophy) , mathematics , engineering , architectural engineering , geometry , philosophy , epistemology
This paper focuses on a justification of the assumption ‘In a joint production competitive industry, market prices are inversely proportional to anchor values’. This assumption is important to underpin the property ‘In a competitive industry the maximum profit mix and the best technological mix coincide’.