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Title
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The concept of sector
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Author
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Abstract
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| We generalize the concept of industry, which stems from the analysis of single-product economies, to that of sector. The sector concept can be applied to economies with or without joint-product processes and pure capital goods. A sectoral economy is an economy characterized by the super-adjustment property: any strictly viable subset of methods can adapt itself to an arbitrary final demand. Given a few additional asumptions, the competitive prices are minimal in a sectoral economy, so that the subset of competitive methods is uniquely defined and the non-substitution property holds. |
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Language
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English
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Source (series)
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Research paper / UFSIA, Faculty of Applied Economics , 1999:024
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Publication
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Antwerpen
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UFSIA
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1999
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Volume/pages
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28 p.
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Full text (open access)
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