A Semigroups Approach to the Study of a Second Order Partial Differential Equation Applied in Economics
AbstractIn this paper we will study the well known problem of production functions in an operator semigroup approach. In general, semigroups can be used to solve a large class of problems commonly known as evolution equations. They are usually described by an initial value problem for a differential equation, also known as a Cauchy problem. After summarizing some of the major properties of semigroups theory, we will provide an application to the theory of production functions. Finally we present some concluding remarks.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 33908.
Date of creation: 06 Oct 2011
Date of revision:
Production functions; Partial differential equations; Semigroups;
Other versions of this item:
- Ioana VIASU & Constantin CHILARESCU, 2011. "A Semigroups Approach to the Study of a Second Order Partial Diferential Equation Applied in Economics," Timisoara Journal of Economics, West University of Timisoara, Romania, Faculty of Economics and Business Administration, vol. 4(4(16)), pages 239-244.
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models &bull Diffusion Processes
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-10-15 (All new papers)
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- Constantin Chilarescu & Nicolas Vaneecloo, 2007. "A Stochastic Approach to the Cobb-Douglas Production Function," Economics Bulletin, AccessEcon, vol. 3(9), pages 1-8.
- repec:ebl:ecbull:v:3:y:2007:i:9:p:1-8 is not listed on IDEAS
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