Abstract
This paper extends to production theory some notions of compensated and equivalent variation analyzed in Luenberger (Econ Theory 7:445–462, 1996) in a consumer context. Along this line the Luenberger–Hicks–Moorsteen productivity indicator introduced in Briec and Kerstens (Econ Theory 23:925–939, 2004) is derived from these concepts for multi-output production technologies. The dual properties of this productivity indicator are analyzed and an aggregate indicator is introduced inspired from the resource function proposed in Luenberger (1996). A connection to a suitable Slutsky matrix is established.
Published Version
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