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Three outstanding NOeG presentations: Morgenstern, Viner, and Menger on the laws of costs and returns

机译:三个优秀的Noeg演示:Morgenstern,Viner和Menger上的成本定律和回报

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This paper re-examines three outstanding contributions on the laws of costs and returns that were first presented at NOeG meetings in the interwar period. Oskar Morgenstern, in a paper presented in January 1930, provided a lucid account of the unresolved problems in the Marshallian approach to the construction of long-run industry supply curves. A few months later, Jacob Viner presented his classic paper on "Cost curves and supply curves". Viner's contribution, with its rigorous geometrical derivation of industry supply curves from the firms' cost situations in competitive conditions, became the model for innumerable textbook presentations of these issues, and a springboard for many further contributions. In another brilliant paper, first presented at a NOeG meeting in December 1935, Karl Menger severely criticized the axiomatic acceptance of the law of diminishing returns. Menger showed that the existing a priori "proofs" of this law are invalid, and made a strong plea for empirical verification. The present paper re-examines the three contributions, discusses their importance for the further development of partial equilibrium analysis, and suggests some reasons for their continuing relevance for present-day microeconomics.
机译:本文重新审查了在交织期间核武器会议上首次呈现的成本法律和退货法律的三项杰出贡献。在1930年1月的一篇论文中,Oskar Morgenstern提供了一个清晰的透明度账户,对Marshallian方法造成了长期行业供应曲线建设的未解决问题。几个月后,Jacob Viner在“成本曲线和供应曲线”上呈现了他的经典论文。 VINER的贡献,它具有竞争条件的公司成本判断的行业供应曲线的严格几何推导,成为这些问题的无数教科书演示的模型,以及许多进一步贡献的跳板。在另一份辉煌的论文中,第一次在1935年12月在NOEG会议上介绍,卡尔·穆格严厉批评了回报递减规律的公理接受。 Menger表明,现有的本法的先验“证明”是无效的,并对实证验证进行了强烈的请求。本文重新审查了三项贡献,讨论了他们对部分均衡分析进一步发展的重要性,并提出了他们对当今微观经济学的持续相关性的原因。

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