On the characterization of efficient production vectors
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The authors provide a necessary and sufficient condition for points of the boundary of a production set to be efficient. It works even if the production set is not convex. The condition involves the production plans on the boundary and it is clearly satisfied when the production set is strictly convex. They show that this condition is incompatible with a standard assumption on the production set, which states that there is a differentiation of the inputs and the outputs.
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Cites work
- Benefit and distance functions
- Convex Analysis
- Existence of equilibria when firms follow bounded losses pricing rules
- scientific article; zbMATH DE number 43981 (Why is no real title available?)
- scientific article; zbMATH DE number 1377489 (Why is no real title available?)
- scientific article; zbMATH DE number 3069614 (Why is no real title available?)
- New optimality principles for economic efficiency and equilibrium
- Optimization and nonsmooth analysis
- Pareto Optimality in Non-Convex Economies
Cited in
(14)- Afriat's theorem for general budget sets
- Existence theorems in vector optimization with generalized order
- Characterizing the efficient points without closedness or free-disposability
- An intrinsic characterization of free disposal hypothesis
- Painlevé-Kuratowski convergences of the solution sets for vector optimization problems with free disposal sets
- What if we increase the number of objectives? Theoretical and empirical implications for many-objective combinatorial optimization
- Characterizing efficiency on infinite-dimensional commodity spaces with ordering cones having possibly empty interior
- A unified vector optimization problem: complete scalarizations and applications
- Convex input and output projections of nonconvex production possibility sets
- Lipschitz properties of the scalarization function and applications
- Response to Lipman and Further Results
- Marginal pricing and marginal cost pricing equilibria in economies with externalities and infinitely many commodities
- A special class of extended multicriteria location problems
- Characterizations of the free disposal condition for nonconvex economies on infinite dimensional commodity spaces
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