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Anatomy of production functions: a technological menu and a choice of the best technology

Author

Listed:
  • Vladimir Matveenko

    (Institute for Economics and Mathematics - Russian Academy of Sciences)

Abstract

Jones (2005) proposed microfoundations for the Cobb-Douglas production function. We show that Jones' technological menu is a special case of a concept of support set discussed by Matveenko (1997) and Rubinov, Glover (1998) by use of a duality approach. We use this approach to clarify the relation between different production functions and technological menus. Also we construct an "ideas model" generating CES production function.

Suggested Citation

  • Vladimir Matveenko, 2010. "Anatomy of production functions: a technological menu and a choice of the best technology," Economics Bulletin, AccessEcon, vol. 30(3), pages 1906-1913.
    • Handle: RePEc:ebl:ecbull:eb-10-00201
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    File URL: http://www.accessecon.com/Pubs/EB/2010/Volume30/EB-10-V30-I3-P173.pdf
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    Citations

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    Cited by:

    1. Growiec, Jakub, 2018. "Factor-specific technology choice," Journal of Mathematical Economics, Elsevier, vol. 77(C), pages 1-14.
    2. Michael Knoblach & Fabian Stöckl, 2020. "What Determines The Elasticity Of Substitution Between Capital And Labor? A Literature Review," Journal of Economic Surveys, Wiley Blackwell, vol. 34(4), pages 847-875, September.
    3. Vladimir Matveenko, 2013. "Resources, Institutions And Technologies: Game Modeling Of Dual Relations," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 9(3), pages 7-28.
    4. Kemnitz, Alexander & Knoblach, Michael, 2020. "Endogenous sigma-augmenting technological change: An R&D-based approach," CEPIE Working Papers 02/20, Technische Universität Dresden, Center of Public and International Economics (CEPIE).
    5. Vladimir D. Matveenk, 2011. "Interests of Social Groups, Direction of Technical Progress, and Barriers to Development: How Sustainable is the World Economic Growth?," DEGIT Conference Papers c016_047, DEGIT, Dynamics, Economic Growth, and International Trade.

    More about this item

    Keywords

    Production function; technological menu; Leontief function; Cobb-Douglas function; CES function; duality; support set;
    All these keywords.

    JEL classification:

    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models

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