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http://hdl.handle.net/2451/26315
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| Title: | Economic Trade: a Solution to the Production Frontier of Two Economies
in Trade |
| Authors: | Tashjian, Richard |
| Issue Date: | Dec-2005 |
| Publisher: | Stern School of Business, New York University |
| Series/Report no.: | SOR-2005-6 |
| Abstract: | It is often possible to intuit the function describing the production
frontier of two economies in trade. For example, when the two individual
frontiers are linear, the aggregate frontier can be rendered by an
intuitive sense of the two derivatives, as will be shown below. But when
the two functions are complex, no amount of judgment will suffice to
sketch the aggregate production frontier. To solve this conundrum, we
will employ polar coordinates and Lagrange Multipliers to yield an
analytical function describing the aggregate production frontier. |
| URI: | http://hdl.handle.net/2451/26315 |
| Appears in Collections: | IOMS: Statistics Working Papers
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