Utility and Production
Theory and Applications
Coto-Millan, P., University
of Cantabria, Santander, Spain
This microeconomics text
presents the traditional economic theories about utility and production, as well as the
main alternative theories of consumer and company behaviour. It contains new theoretical
functions created from specific optimisation procedures. Moreover, it details clearly the
common function expression forms such as Cobb-Douglas and CES in which the theory is
checked. Furthermore, it presents empirical tests and their interpretation in relation to
the theory. Finally, the last chapter looks at choice made under conditions of
uncertainty.
Keywords: CES Production
Function, CES-Produktionsfunktion, Cobb-Douglas, Cobb-Douglas-Production Function,
Cobb-Douglas-Produktionsfunktion, Microeconomics, Mikroökonomik, Nutzen, Production,
Production Function, Produktion, Utility
230 pages