economics and econometrics, the Cobb–Douglas production function is a particular functional form of the production function, widely used to represent the...
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famous for developing the Cobb–Douglas production function in economics. He worked on this project with the economist Paul H. Douglas while lecturing at Amherst...
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empirically. Linear functions imply that inputs are perfect substitutes in production. Another is as a Cobb–Douglas production function: Q = a 0 X 1 a 1...
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usual parameterizations of a Cobb–Douglas production function, the AK model uses a linear model where output is a linear function of capital. Its appearance...
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\gamma _{i}=0} , the Stone–Geary function reduces to the generalised Cobb–Douglas function. The Stone–Geary utility function gives rise to the Linear Expenditure...
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Indifference curve (section Cobb–Douglas utility)
(Beattie-LaFrance). An example of a utility function that generates indifference curves of this kind is the Cobb–Douglas function U ( x , y ) = x α y 1 − α , 0 ≤...
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example, the Cobb–Douglas function could also be written as: w x log x + w y log y {\displaystyle w_{x}\log {x}+w_{y}\log {y}} . Such functions only become...
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{\displaystyle v(p,e(p,u))\equiv u} Let's say the utility function is the Cobb-Douglas function u ( x 1 , x 2 ) = x 1 0.6 x 2 0.4 , {\displaystyle u(x_{1}...
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production function is a special case of a Cobb–Douglas production function: Y = A K a L 1 − a {\displaystyle Y=AK^{a}L^{1-a}\,} This equation shows a Cobb–Douglas...
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Diminishing returns (section Production function)
Estimates using the Cobb-Douglas Function". Econometrica. 26 (2): 306. doi:10.2307/1907592. JSTOR 1907592. "The Production Function | Microeconomics"....
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is a function of x {\displaystyle x} . Data transformations are often used to convert an equation into a linear form. For example, the Cobb–Douglas function—often...
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harder to automate.) Multifactor productivity This equation is a "Cobb–Douglas function", which is used more often than any other output relationship because...
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that give the consumer the same utility. A typical utility function is the Cobb–Douglas function: u ( x , y ) = x α ⋅ y β {\displaystyle u(x,y)=x^{\alpha...
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production function. Commonly used forms of production functions, such as Cobb-Douglas and Constant Elasticity of Substitution (CES) functions exhibit homothticity...
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problem is the cost minimization problem Suppose the utility function is the Cobb-Douglas function u ( x 1 , x 2 ) = x 1 .6 x 2 .4 , {\displaystyle u(x_{1}...
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JSTOR 1926047. Simon, Herbert; Levy, F. (1963). "A Note on the Cobb-Douglas Function". Review of Economic Studies. 30 (2): 93–104. doi:10.2307/2295806...
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production function is Number of cars = Min{1⁄4 times the number of tires, 1 times the number of steering wheels}. Cobb–Douglas production function Isoquant...
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Constant elasticity of substitution (redirect from CES production function)
CES production function exhibits constant elasticity of substitution between capital and labor. Leontief, linear and Cobb–Douglas functions are special cases...
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one (although the production function is not necessarily asymptotically Cobb–Douglas, a commonplace production function for which this condition holds)...
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choice Hotelling's lemma Hicksian demand function Marshallian demand function Cobb-Douglas production function Giffen Goods Purchasing power Normal good...
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production functions is due to Johann Heinrich von Thünen, which presented an exponential version of it. The standard Cobb–Douglas production function found...
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Parametric family (redirect from Parametric family of functions)
distributions.[citation needed] In economics, the Cobb–Douglas production function is a family of production functions parametrized by the elasticities of output...
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Conference. Fuleky, P. (September 2006). "Anatomy of a Cobb-Douglas Type Production/Utility Function in Three Dimensions". University of Washington. Fuleky...
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Michael Kirk Douglas (born September 25, 1944) is an American actor and film producer. He has received numerous accolades, including two Academy Awards...
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K+(1-\alpha )L]} when γ = 1 {\displaystyle \ \gamma =1} Cobb–Douglas production function (or imperfect complements) Y = A K α L 1 − α {\displaystyle...
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Green, Jerry (1995). Microeconomic Theory. Oxford: Oxford University Press. ISBN 0-19-507340-1. Anatomy of Cobb-Douglas Type Utility Functions in 3D...
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ratio as the level of output expands. A Cobb–Douglas production function is an example of a production function that has an expansion path which is a straight...
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John Boswell Cobb Jr. (9 February 1925 – 26 December 2024) was an American theologian, philosopher and environmentalist. He is often regarded as the preeminent...
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progress. At its core, it is an aggregate production function, often specified to be of Cobb–Douglas type, which enables the model "to make contact with...
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W. W.; Schinnar, A. P. (1976). "A theorem on homogeneous functions and extended Cobb–Douglas forms". Proc. Natl. Acad. Sci. 73 (10): 3747–3748. Bibcode:1976PNAS...
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