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Estimation of the Cobb-Douglas Production Function
Econometrica, 1975WE CONSIDER THE PROBLEM of estimating the coefficients of the Cobb-Douglas production function when observations are obtained from a cross section of firms. Under the assumptions that the firms operate in competitive markets and maximize "actual" profits, a stochastic model of production of the firms can be ...
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On Cobb-Douglas production function model
AIP Conference Proceedings, 2019The purpose of this discourse is to describe the estimation methods of COBB-DOUGLAS production functional model thrash cost function and with multiplicative and additive errors. Nonlinear regression models have been a subject of an intensive investigation in select years.
B. Mahaboob +4 more
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A stochastic approach to the Cobb-Douglas Production Function [PDF]
Economics Bulletin, 2007 This paper presents a stochastic approach to the theory of aggregateproduction function, based on the theory of stochastic differentialequations. The main result is that under certain restrictions the productionfunction converges from below to the Cobb-Douglas functionproviding further support for the conclusion drawn by Jones (2005).
Constantin Chilarescu, Nicolas Vaneecloo
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The Cobb-Douglas Production Function
Mathematics Magazine, 1980(1980). The Cobb-Douglas Production Function. Mathematics Magazine: Vol. 53, No. 1, pp. 44-48.
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A Cobb‐Douglas Production Function with Variable Returns to Scale
American Journal of Agricultural Economics, 1970T HE OBJECTIVE of this paper is to present a production function with variable returns to scale over the range of the function. A modified form of the Cobb-Douglas function is developed for this purpose. Data from a sample of farms are used to estimate the parameters of the modified function utilizing single-stage least-squares estimation.
Edwin F. Ulveling, Lehman B. Fletcher
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The Cobb-Douglas Production Function
1981Consider now a special representation of the index function σ appearing in the definition of the nomothetic production surfaces (32) or (32.1). Let $$ \sigma = {\sigma _{0}}\left[ {\mathop{\Pi }\limits_{{i = 1}}^{N} {{(\frac{{{x_{1}}}}{{{x_{1}}0}})}^{{{a_{{i\quad }}}}}}\mathop{\Pi }\limits_{{k = 1}}^{L} {{(\frac{{{x_{1}}}}{{{x_{1}}0}})}^{{{b_{k}}}}}}
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Efficient Cobb-Douglas Production Function
The Central Asian Review of Economics and Policy, 2019In this paper, we present a function for the share of factors of output, which is in complete agreement with primary production theories in microeconomics. We follow some assumptions for production function, and also payment to each factor equals their marginal products, and we create a new production function which is called the efficient production ...
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The Success of the Cobb-Douglas Production Function Is An Illusion
SSRN Electronic Journal, 2020The Cobb-Douglas production function (the C-D function) is believed to have successfully validated and consolidated the marginal productivity theory of income distribution (MPTID) and the aggregate production function (APF). However, this paper discovers that this success is an illusion.
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A Note on Estimation of Cobb-Douglas and CES Production Function Models
Econometrica, 1969ZELLNER, KMENTA, AND DRfEZE in a recent article [3] specified for the firm a Cobb-Douglas production model in which the traditional profit maximization assumption was modified to explicitly recognize the stochastic nature of profits. Assuming that firms maximize the mathematical expectation of profits, the authors found that under conditions of pure ...
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Death to the Cobb-Douglas production function
2019Wir zeigen, dass die große Substitutionselastizität zwischen Kapital und Arbeit, die in der Literatur im Durchschnitt auf etwa 0,9 geschätzt wird, von drei Faktoren erklärt werden kann: eine selektive Publikation konformer Ergebnisse, die Verwendung aggregierter Daten und die Nicht-Berücksichtigung der Bedingung erster Ordnung für den Kapitaleinsatz ...
Gechert, Sebastian +3 more
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