Production Theory an Construction Productivity
The theory of production applied to the construction industry has been typically based on managementtheories, and the application of the economic theory of production is less common. The economic theoryof production focuses on features of the demand for factors of production (inputs) and output ofcommodities to develop input and output functions. The issues involved on the input side are concernedwith the technical constraint of production processes that determine the cost base, and on theoutput side with the structure of markets where prices and revenues are determined. This paper focuseson the input side. The purpose of the paper is to discuss properties of construction productiontechnology in the context of the economic theory.of production and the production function. The paperthen discusses the role of technical progress and shifts in the production function due to the adoptionof new techniques which affect the production process or change input/output relationships.
|Year of publication:||
|Authors:||De Valence Gerard|
|Other Persons:||Kenley, R. (contributor)|
International Group for Lean Construction
|Type of publication:||Other|
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