Cover: Investment and Production in HARDCOVER

Harvard Economic Studies 117

Investment and Production

A Study in the Theory of the Capital-Using Enterprise

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Product Details


$48.50 • £38.95 • €43.50

ISBN 9780674465008

Publication Date: 01/01/1961


Developing a unified theory of production and investment, Vernon L. Smith explores the empirical and theoretical nature of the interdependence between “short-run” current account production decisions and “long-run” investment planning, taking into account such technological factors as equipment replacement. The book builds an explicit theory of production planning by integrating production, investment, and equipment replacement policy, derives the decision implications of the use of durable capital goods, and examines the production function concept and the production decision process in engineering design and in general business practice.

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