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Inada conditions imply that production function must be asymptotically Cobb-Douglas

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  • Barelli, Paulo
  • de Abreu Pessoa, Samuel

Abstract

We show that every twice-continuously differentiable and strictly concave function f : R+ → R+ can be bracketed between two C.E.S. functions at each open interval. In particular, for the Inada conditions to hold, a production function must be asymptotically Cobb-Douglas.
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  • Barelli, Paulo & de Abreu Pessoa, Samuel, 2003. "Inada conditions imply that production function must be asymptotically Cobb-Douglas," Economics Letters, Elsevier, vol. 81(3), pages 361-363, December.
    • Handle: RePEc:eee:ecolet:v:81:y:2003:i:3:p:361-363
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    References listed on IDEAS

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    1. Ken-ichi Inada, 1963. "On a Two-Sector Model of Economic Growth: Comments and a Generalization," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 30(2), pages 119-127.
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