Hughes, Joseph P.; Lang, William W.; Mester, Loretta J.; … - 2000 - This draft: September 2000
We argue for a shift in the focus of modeling production from the traditional assumptions of profit maximization and … the analysis of production and recover value-maximizing technologies. We show how this shift can be implemented using the … between the risk-incentives literature in banking that ignores the microeconomics of production and the production literature …