Inada conditions imply that production function must be asymptotically Cobb-Douglas
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.
|Date of creation:||25 Mar 2003|
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