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A Semigroups Approach to the Study of a Second Order Partial Differential Equation Applied in Economics

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Chilarescu, Constantin

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Abstract

In 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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File URL: http://mpra.ub.uni-muenchen.de/6115/
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 6115.

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Date of creation: 05 Dec 2007
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Handle: RePEc:pra:mprapa:6115

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Related research
Keywords: Production functions Partial differential equations Semigroups

Find related papers by JEL classification:
C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models
D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity

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  1. Constantin Chilarescu & Nicolas Vaneecloo, 2007. "A Stochastic Approach to the Cobb-Douglas Production Function," Economics Bulletin, Economics Bulletin, vol. 3(9), pages 1-8. [Downloadable!]
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