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Some Characterizations of the Cobb‐Douglas and CES Production Functions in Microeconomics

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  • Xiaoshu Wang
  • Yu Fu

Abstract

It is well known that the study of the shape and the properties of the production possibility frontier is a subject of great interest in economic analysis. Vîlcu (Vîlcu, 2011) proved that the generalized Cobb‐Douglas production function has constant return to scale if and only if the corresponding hypersurface is developable. Later on, the authors A. D. Vîlcu and G. E. Vîlcu, 2011 extended this result to the case of CES production function. Both results establish an interesting link between some fundamental notions in the theory of production functions and the differential geometry of hypersurfaces in Euclidean spaces. In this paper, we give some characterizations of minimal generalized Cobb‐Douglas and CES production hypersurfaces in Euclidean spaces.

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  • Xiaoshu Wang & Yu Fu, 2013. "Some Characterizations of the Cobb‐Douglas and CES Production Functions in Microeconomics," Abstract and Applied Analysis, John Wiley & Sons, vol. 2013(1).
    • Handle: RePEc:wly:jnlaaa:v:2013:y:2013:i:1:n:761832
    DOI: 10.1155/2013/761832
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    References listed on IDEAS

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    1. Daniel McFadden, 1963. "Constant Elasticity of Substitution Production Functions," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 30(2), pages 73-83.
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