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Production Function with Single Factor for Intelligent Manufacturing by Workshop Agent

Author

Listed:
  • Kunlu Zhou

    (Chongqing University of Posts and Telecommunications)

  • Xirong Gao

    (Chongqing University of Posts and Telecommunications)

Abstract

The significant integration effect of factor of intelligent manufacturing is bound to trigger a revolution in traditional production theory. Therefore, this article introduces the single-factor concept of “workshop agent” and explains the integration logic of workshop agent for labor, capital, and technology based on a systematic analysis of the attribute characteristics of traditional production factors and workshop agent factor. Then, based on Cobb–Douglas production function, a single-factor production function suitable for intelligent manufacturing is constructed, and its marginal characteristics are analyzed. Research shows that workshop agent is a new form of integration of production factors in the era of intelligent manufacturing and can simultaneously perform the input functions of labor, capital, and technology factors. In addition, the production function with single factor based on workshop agent meets the law of increasing marginal production, which is the result of the removal of mismatches, synergy barriers, crowding effects, biological limitations, and asset specificity from the single-factor production model. The research results are helpful to promote the innovation of production theory in the era of intelligent manufacturing and can be used to guide the intelligent transformation practice of the current manufacturing industry.

Suggested Citation

  • Kunlu Zhou & Xirong Gao, 2024. "Production Function with Single Factor for Intelligent Manufacturing by Workshop Agent," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(3), pages 11161-11187, September.
    • Handle: RePEc:spr:jknowl:v:15:y:2024:i:3:d:10.1007_s13132-023-01551-y
    DOI: 10.1007/s13132-023-01551-y
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    References listed on IDEAS

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    3. Samuel S. Kortum, 1997. "Research, Patenting, and Technological Change," Econometrica, Econometric Society, vol. 65(6), pages 1389-1420, November.
    4. Charles I. Jones, 2005. "The Shape of Production Functions and the Direction of Technical Change," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 120(2), pages 517-549.
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