{"product_id":"9783032348104","title":"Theory of Production A Rigorous Treatment of Technology, Costs, and Price Formation","description":"\u003ch3\u003eStudies in Economic Theory\u003c\/h3\u003e\u003ch1\u003eTheory of Production\u003c\/h1\u003e\u003ch2\u003eA Rigorous Treatment of Technology, Costs, and Price Formation\u003c\/h2\u003e\u003ch3\u003eRodrigo Peñaloza | Luciano I. de Castro\u003c\/h3\u003e\u003cdiv\u003e\u003cb\u003eBusiness \u0026amp; Economics \/ Economics \/ Microeconomics\u003c\/b\u003e\u003c\/div\u003e\u003cbr\u003e\u003cdiv\u003e\n\u003cp\u003eThis textbook offers a rigorous yet accessible exploration of production theory and partial equilibrium, extending well beyond the scope of standard microeconomic texts. Designed for students at both undergraduate and graduate levels, it integrates classical insights with modern analytical tools to deepen their understanding of production and price theory.\u003c\/p\u003e\r\n\r\n\u003cp\u003eIn addition to covering foundational topics, this book introduces lesser-known but highly significant concepts often omitted in mainstream curricula. Readers will encounter Böhm-Bawerk’s marginal pairs, the idea of perfect competition as full appropriation, and the elusive notion of roundaboutness. Further chapters explore the inverse problem of costs, the medium-run supply curve, and the decentralization of the transportation problem, culminating in a discussion of Menger’s Law—a powerful principle at the heart of Austrian economics. A unique feature of the book is its sustained focus on shadow prices, offering students thorough training in interpreting and applying this crucial concept across a range of economic settings.\u003c\/p\u003e\r\n\u003c\/div\u003e\u003cdiv\u003e\n\u003cp\u003e\u003cstrong\u003eRodrigo Peñaloza\u003c\/strong\u003e earned his PhD from the University of California, Los Angeles, his MSc from the Institute of Pure and Applied Mathematics in Rio de Janeiro, and his bachelor's degree from the University of Brasilia. He teaches Price Theory, Microeconomics of Banking, Theory of Incentives, and Mathematical Methods.\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cstrong\u003eLuciano de Castro\u003c\/strong\u003e is a Professor of Economics at the Tippie College of Business, University of Iowa. He holds a degree in Electronic Engineering from ITA and completed his PhD and MSc at IMPA. His research focuses on Economic Theory, with significant contributions to Auction Theory, Game Theory, Political Economy, and Decision Theory. Recently, he has been working extensively on quantile preferences.\u003c\/p\u003e\r\n\u003c\/div\u003e\u003cbr\u003e\u003ctable\u003e\n\u003ctr\u003e\n\u003ctd\u003ePublication Date: \u003c\/td\u003e\n\u003ctd\u003e11 January 2027\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePublisher: \u003c\/td\u003e\n\u003ctd\u003eSpringer Nature Switzerland\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eImprint: \u003c\/td\u003e\n\u003ctd\u003eSpringer\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eISBN-13: \u003c\/td\u003e\n\u003ctd\u003e9783032348104\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFormat: \u003c\/td\u003e\n\u003ctd\u003eHardback\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/table\u003e","brand":"Springer Nature Switzerland","offers":[{"title":"Default Title","offer_id":51213900775564,"sku":"9783032348104","price":80.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0710\/9545\/1788\/files\/9783032348104.jpg?v=1782999091","url":"https:\/\/fh90cf-fv.myshopify.com\/products\/9783032348104","provider":"Late Knight Books and Services, LLC","version":"1.0","type":"link"}