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The mathematical models of productivity theory allows for the productivity rate of manufacturing machines and systems to be modelled with results that are validated by their actual output. This book presents the analytical approaches and methods to define maximal productivity rate of manufacturing machines and systems, based on the parameters of technological processes, structural design, reliability of mechanisms, and management systems.
Provides a comprehensive approach to productivity and efficiency analysis using economic and econometric theory.
John Pullen presents a critical history of the concept of the Marginal Profit Theory of Distribution looking at the contributions of its proponents (eg Stigler) and its critics (eg Pareto) and stressing the continuity of the debate.
This book develops the theory of productivity measurement using the empirical index number approach. The theory uses multiplicative indices and additive indicators as measurement tools, instead of relying on the usual neo-classical assumptions, such as the existence of a production function characterized by constant returns to scale, optimizing behavior of the economic agents, and perfect foresight. The theory can be applied to all the common levels of aggregation (micro, meso, and macro), and half of the book is devoted to accounting for the links existing between the various levels. Basic insights from National Accounts are thereby used. The final chapter is devoted to the decomposition of productivity change into the contributions of efficiency change, technological change, scale effects, and input or output mix effects. Applications on real-life data demonstrate the empirical feasibility of the theory. The book is directed to a variety of overlapping audiences: statisticians involved in measuring productivity change; economists interested in growth accounting; researchers relating macro-economic productivity change to its industrial sources; enterprise micro-data researchers; and business analysts interested in performance measurement.
Hunt convincingly demonstrates that competition is not about dividing up limited resources but about creating more resources and thus competition is pro-society. This truly interdisciplinary book successfully develops a general theory of competition which is rich in explanatory breadth and depth. Consequently, executives and entrepreneuers, management consultants, public makers, and scholars and students in economics, law, political science, and business should read and study this book. —Robert F. Lusch, University of Oklahoma This book develops a new theory of competition. This theory – labeled "resource-advantage theory" – stems from no single research tradition, but draws on several different traditions in economics, management, marketing, and sociology. In this ground-breaking volume, Shelby Hunt articulates R-A theory, uses the theory to explain and predict economic phenomena, and shows how (and why) it explains and predicts such phenomena.
Productivity varies widely between industries and countries, but even more so across individual firms within the same sectors. The challenge for governments is to strike the right balance between policies designed to increase overall productivity and policies designed to promote the reallocation of resources towards firms that could use them more effectively. The aim of this book is to provide the empirical evidence necessary in order to strike this policy balance. The authors do so by using a micro-aggregated dataset for 20 EU economies produced by CompNet, the Competitiveness Research Network, established some 10 years ago among major European institutions and a number of EU productivity boards, National Central Banks, National Statistical institutes, as well as academic Institutions. They call for pan-EU initiatives involving statistical offices and scholars to achieve a truly complete EU market for firm-level information on which to build solidly founded economic policies.
Industrial Price, Quantity, and Productivity Indices: The Micro-Economic Theory and an Application gives a comprehensive account of the micro-economic foundations of industrial price, quantity, and productivity indices. The various results available from the literature have been brought together into a consistent framework, based upon modern duality theory. This integration also made it possible to generalize several of these results. Thus, this book will be an important resource for theoretically as well as empirically-oriented researchers who seek to analyse economic problems with the help of index numbers. Although this book's emphasis is on micro-economic theory, it is also intended as a practical guide. A full chapter is therefore devoted to an empirical application. Three different approaches are pursued: a straightforward empirical approach, a non-parametric estimation approach, and a parametric estimation approach. As well as illustrating some of the more important concepts explored in this book, and showing to what extent different computational approaches lead to different outcomes for the same measures, this chapter also makes a powerful case for the use of enterprise micro-data in economic research.
Since the time of the Industrial Revolution, manufacturing industries have accumulated a huge experience in creating different machines and systems for fabricating various goods, work parts, and products. All these diverse machines and systems, with different designs to solve pivoted economic problems, increased the productivity rate of manufacturing processes and generated high-quality products. In the area of productivity theory for industrial engineering, there are numerous publications that describe the fundamental approaches and the mathematical models of productivity rate for the different designs of industrial machines and systems. Known theories consider the physical productivity rate as the number of products fabricated over a given time (ASME) that is a component of economic productivity. However, known mathematical models are simplified with assumptions and not well developed analytically, which can lead to severe errors in computing the output of manufacturing systems. Modern industrial machines and systems are complex in design and in structure with serial, parallel, and serial-parallel arrangements, and any failure of any component leads to downtime of expensive production systems. For this reason, industries need a productivity theory that enables accurate predicting of the output of manufacturing systems at the preliminary stages. Key features Offers fundamental principles of productivity theory for industrial machines and systems based on mathematics, technology, design, reliability, probability, and management Presents the conceptual principles of productivity theory for industrial machines and systems Provides methods for computing productivity losses in real industrial environments Closes the gap between theory and practice for computing productivity rates of manufacturing systems Incudes a comparative analysis of productivity rates for manufacturing systems of serial, parallel, and serial-parallel arrangements Productivity Theory for Industrial Engineering presents analytical approaches and methods to define maximal productivity rates, optimal machining regimes, and optimal structure of manufacturing machines and systems based on the parameters of technological processes, structural design, reliability of mechanisms, and management systems. This book uses productivity theory for solving productivity problems and can also be used for complex approaches for sustainable improvement of production processes.