Abstract
In his book “Theory of Cost and production Functions” Shephard has introduced the concept of production correspondences. Such a correspondence assigns to each combination of inputs the possible outputs. Of course, this connection is not always deterministic. For example, the weather or the development of interest have great influence in some sectors of economy. Hence we shall try in the following to stochasticize this concept of production correspondence.1)
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References
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© 1974 Springer-Verlag Berlin · Heidelberg
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Henn, R., Krug, E. (1974). On Efficient Points of a Stochastic Production Correspondence. In: Eichhorn, W., Henn, R., Opitz, O., Shephard, R.W. (eds) Production Theory. Lecture Notes in Economics and Mathematical Systems, vol 99. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-80864-7_14
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DOI: https://doi.org/10.1007/978-3-642-80864-7_14
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