Why is the Cobb-Douglas production function so popular?

被引：0

作者：

Balk, Bert M. ^{[1
]}

机构：

[1] Erasmus Univ, Rotterdam Sch Management, Rotterdam, Netherlands

来源：

EVOLUTIONARY AND INSTITUTIONAL ECONOMICS REVIEW | 2024年 / 21卷 / 01期

关键词：

Productivity; Production function; Cobb-Douglas; Index number theory; C43; D24; E01; E23; INDEX NUMBERS; EXPLANATION; OUTPUT; LAWS;

D O I：

10.1007/s40844-024-00279-x

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

It is well known that, in continuous time, the Cobb-Douglas function can be derived from the underlying, data governing, accounting identity under some reasonable assumptions (factor shares are constant, and the weighted growth of the labour input price and the capital input price is constant). In this article these results are generalized in three ways: (1) the accounting identity contains a (pure) profit term; (2) continuous time is replaced by discrete time periods; (3) additional assumptions appear to be superfluous. The article also discusses extensions: from two to multiple inputs, from value added to gross output, and from a single production unit to an ensemble of those units.

引用

页码：1 / 20

页数：20

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