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Separability and AggregationThe Collected Works of W. M. Gorman, Volume I$
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W. M. Gorman, C. Blackorby, and A. F. Shorrocks

Print publication date: 1996

Print ISBN-13: 9780198285212

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198285213.001.0001

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More Measures for Fixed Factors

More Measures for Fixed Factors

Chapter:
(p.379) 21 More Measures for Fixed Factors
Source:
Separability and Aggregation
Author(s):

W. M. Gorman (Contributor Webpage)

, C. Blackorby, A. F. Shorrocks
Publisher:
Oxford University Press
DOI:10.1093/0198285213.003.0021

This paper was published in 1990 in Measurement and Modelling in Economics (ed. G. D. Myles. Amsterdam: North Holland), and in many ways is the culmination of Gorman's aggregation project, which began in 1953. The problem is cast as a capital aggregation problem, but can also be used in other contexts (labour, food). This time the aggregation question concerns the existence of a set of aggregates, where each aggregate can, in principle, depend upon all types of capital. The discussion in Sect. 1 is cast in terms of fixed factors and profit functions, and with appropriate changes can also be applied to vector social welfare, vector income measures, and so on. Sect. 2 performs the same exercise on net supply functions, Sect. 3 considers the case in which the aggregates are independent of prices, Sect. 4 presents an alternative characterization of the solution, and Sect. 5 presents an argument permitting the functions to be converted to partial derivatives; three appendices address further issues.

Keywords:   aggregates, aggregation, capital aggregation, fixed factors, net supply functions, partial derivatives, profit functions, vector income measures, vector social welfare

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