NEOCLASSICAL MEASUREMENT OF EX ANTE RESOURCE SUBSTITUTION: AN EXPERIMENTAL EVALUATION.

Raymond J. Kopp; V. Kerry Smith

NEOCLASSICAL MEASUREMENT OF EX ANTE RESOURCE SUBSTITUTION: AN EXPERIMENTAL EVALUATION.

Raymond J. Kopp, V. Kerry Smith

WPC: Economics

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

4 Scopus citations

Abstract

The purpose of this paper is to summarize an experimental evaluation of the performance of neoclassical models of production in measuring the prospects for input substitution within an ex ante framework. The analysis maintains that neoclassical models are best interpreted as convenient approximations for the inherently complex engineering processes of real-world production activities.

Original language	English (US)
Title of host publication	Advances in the Economics of Energy and Resources
Publisher	JAI Press Inc
Pages	183-198
Number of pages	16
Volume	4
ISBN (Print)	0892322152
State	Published - Dec 1 1982

ASJC Scopus subject areas

Engineering(all)

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Cite this

Kopp, R. J., & Smith, V. K. (1982). NEOCLASSICAL MEASUREMENT OF EX ANTE RESOURCE SUBSTITUTION: AN EXPERIMENTAL EVALUATION. In Advances in the Economics of Energy and Resources (Vol. 4, pp. 183-198). JAI Press Inc.

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