IDEAS home Printed from https://ideas.repec.org/a/ris/betajl/0016.html
   My bibliography  Save this article

A General Evaluation on Estimates of Cobb-Douglas, CES, VES and Translog Production Functions

Author

Listed:
  • Songur, Mehmet

    (Munzur University)

  • Elmas Saraç, Filiz

    (Gazi University)

Abstract

This article gives an overview of the literature on the empirical estimation of different production functions. In this context, the empirical literature on four different production functions (Cobb-Douglas, CES, VES and Translog) has been examined. It can be seen from the literature, OLS estimator is often used to estimate production functions. On the other hand, the Cobb-Douglas Production Function is generally preferred in the literature for estimating output elasticity. However, the Cobb-Douglas Production Function does not provide information about the substitution relationships between inputs. For this reason, production functions that allow the calculation of elasticity of substitution should be preferred.

Suggested Citation

  • Songur, Mehmet & Elmas Saraç, Filiz, 2017. "A General Evaluation on Estimates of Cobb-Douglas, CES, VES and Translog Production Functions," Bulletin of Economic Theory and Analysis, BETA Journals, vol. 2(3), pages 235-278, July-Sept.
    • Handle: RePEc:ris:betajl:0016
    as

    Download full text from publisher

    File URL: http://dergipark.gov.tr/download/article-file/373862
    File Function: Full text
    Download Restriction: betajournals@gmail.com
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    Production Function; Cobb-Douglas; CES; VES; Translog;
    All these keywords.

    JEL classification:

    • D20 - Microeconomics - - Production and Organizations - - - General
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ris:betajl:0016. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Erginbay Ugurlu (email available below). General contact details of provider: https://dergipark.org.tr/beta .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.