Anatomy of production functions: a technological menu and a choice of the best technology

Anatomy of production functions: a technological menu and a choice of the best technology

Jones (2005) proposed microfoundations for the Cobb-Douglas production function. We show that Jones' technological menu is a special case of a concept of support set discussed by Matveenko (1997) and Rubinov, Glover (1998) by use of a duality approach. We use this approach to clarify the relati...

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Veröffentlicht in:Economics bulletin 2010, Vol.30 (3), p.1906-1913
1. Verfasser: Matveenko, Vladimir
Format: Artikel
Sprache:eng
Schlagworte:
CES function
Cobb-Douglas function
duality
Leontief function
Production function
support set
technological menu
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Zusammenfassung:Jones (2005) proposed microfoundations for the Cobb-Douglas production function. We show that Jones' technological menu is a special case of a concept of support set discussed by Matveenko (1997) and Rubinov, Glover (1998) by use of a duality approach. We use this approach to clarify the relation between different production functions and technological menus. Also we construct an "ideas model" generating CES production function.
ISSN:1545-2921
1545-2921