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A Generalization of Some Production Functions

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  • Catalin Angelo Ioan

    () (“Danubius” University of Galati)

Abstract

In this paper we shall give a generalization of Cobb-Douglas, CES, Lu-Fletcher, Liu-Hildebrand, VES, Kadiyala production functions. We compute the principal indicators like the marginal products, the marginal rate of substitution, the elasticities of factors and the elasticity of substitution. Finally we formulate two theorems of characterization for the functions with a proportional marginal rate of substitution and for those with constant elasticity+ of substitution (for n=1).

Suggested Citation

  • Catalin Angelo Ioan, 2010. "A Generalization of Some Production Functions," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 1(1), pages 110-123, March.
  • Handle: RePEc:dug:actaec:y:2010:i:1:p:110-123
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    File URL: http://journals.univ-danubius.ro/index.php/oeconomica/article/view/343/325
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    References listed on IDEAS

    as
    1. Catalin Angelo IOAN, 2007. "Applications Of The Space Differential Geometry At The Study Of Production Functions," EuroEconomica, Danubius University of Galati, issue 18, pages 30-37, March.
    2. S K Mishra, 2010. "A Brief History of Production Functions," The IUP Journal of Managerial Economics, IUP Publications, vol. 0(4), pages 6-34, November.
    3. Revankar, Nagesh S, 1971. "A Class of Variable Elasticity of Substitution Production Functions," Econometrica, Econometric Society, vol. 39(1), pages 61-71, January.
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