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A generalization of a class of production functions

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  • Catalin Angelo Ioan
  • Gina Ioan

Abstract

In this article we shall give a generalization of Cobb--Douglas, Constant Elasticity of Substitution (CES), Lu--Fletcher, Liu--Hildebrand, Variable Elasticity of Substitution (VES) and Kadiyala production functions. We compute the principal indicators such as the marginal products, the marginal rate of substitution, the elasticities of factors and the elasticity of substitution. Finally, we formulate three theorems of characterization for the functions with a proportional marginal rate of substitution, with constant elasticity of labour and for those with constant elasticity of substitution (for n = 1).

Suggested Citation

  • Catalin Angelo Ioan & Gina Ioan, 2011. "A generalization of a class of production functions," Applied Economics Letters, Taylor & Francis Journals, vol. 18(18), pages 1777-1784, December.
    • Handle: RePEc:taf:apeclt:v:18:y:2011:i:18:p:1777-1784
    DOI: 10.1080/13504851.2011.564117
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    References listed on IDEAS

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    1. 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.
    2. 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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    Cited by:

    1. Catalin Angelo Ioan, 2015. "A New Approach to Utility Function," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 11(2), pages 194-223, April.
    2. Catalin Angelo Ioan & Gina Ioan, 2012. "The Consumer's Budget from a Geometrically Point of View," The Journal of Accounting and Management, Danubius University of Galati, issue 1, pages 23-30, May.
    3. Catalin Angelo Ioan & Gina Ioan, 2012. "Discussions on n Substitutable Goods Production and Consumption," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 4(4), pages 168-176, August.
    4. Catalin Angelo Ioan & Gina Ioan, 2012. "On the General Theory of Production Functions," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 5(5), pages 225-238, October.
    5. Alin Cristian Ioan & Catalin Angelo Ioan, 2011. "On The Nature of Level Hyper Surfaces in the Economic Theory," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 5(5), pages 143-149, October.
    6. Nicol`o Cangiotti & Mattia Sensi, 2020. "A geometric characterization of VES and Kadiyala-type production functions," Papers 2004.09617, arXiv.org.

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