Cost Minimization of Nonconvex Firms under Prices in Normal Cones
研究非凸企业在正常锥价格下是否成本最小化，发现凸等产出集的企业不一定成本最小化，并给出了成本最小化的充分条件，同时扩展了第二福利定理。
Clarke's normal cone has been frequently used to formulate the marginal cost pricing rule for nonconvex firms. The author provides examples where a firm with convex iso-output sets is not minimizing its cost at a price vector in the normal cone. For a firm to be cost minimizing under any price in the normal cone, lower hemicontinuity of the iso-output correspondence is sufficient. The author also provides an extension of the second welfare theorem with a price vector in the normal cone of each firm and cost minimization of firms. Copyright 1994 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.