Production - The Cowles Contributions

Production and Firm Behavior

Article

Here we shall consider the Neo-Walrasian theory of production developed by Tjalling C. Koopmans (1951) among others at the Cowles Commission during the 1940s and 1950s which relies heavily on use of activity analysis and convexity theory, notably the Separating Hyperplane Theorem. The more traditional Neoclassical theory of production is surveyed elsewhere.