IDEAS home Printed from https://ideas.repec.org/a/taf/apeclt/v18y2011i18p1777-1784.html
   My bibliography  Save this article

A generalization of a class of production functions

Author

Listed:
  • Catalin Angelo Ioan
  • Gina Ioan

Abstract

In this article we shall give a generalization of Cobb--Douglas, Constant Elasticity of Substitution (CES), Lu--Fletcher, Liu--Hildebrand, Variable Elasticity of Substitution (VES) and Kadiyala production functions. We compute the principal indicators such as the marginal products, the marginal rate of substitution, the elasticities of factors and the elasticity of substitution. Finally, we formulate three theorems of characterization for the functions with a proportional marginal rate of substitution, with constant elasticity of labour and for those with constant elasticity of substitution (for n = 1).

Suggested Citation

  • Catalin Angelo Ioan & Gina Ioan, 2011. "A generalization of a class of production functions," Applied Economics Letters, Taylor & Francis Journals, vol. 18(18), pages 1777-1784, December.
  • Handle: RePEc:taf:apeclt:v:18:y:2011:i:18:p:1777-1784
    DOI: 10.1080/13504851.2011.564117
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/13504851.2011.564117
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/13504851.2011.564117?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. S K Mishra, 2010. "A Brief History of Production Functions," The IUP Journal of Managerial Economics, IUP Publications, vol. 0(4), pages 6-34, November.
    2. Revankar, Nagesh S, 1971. "A Class of Variable Elasticity of Substitution Production Functions," Econometrica, Econometric Society, vol. 39(1), pages 61-71, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Catalin Angelo Ioan, 2015. "A New Approach to Utility Function," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 11(2), pages 194-223, April.
    2. Catalin Angelo Ioan & Gina Ioan, 2012. "The Consumer's Budget from a Geometrically Point of View," The Journal of Accounting and Management, Danubius University of Galati, issue 1, pages 23-30, May.
    3. Catalin Angelo Ioan & Gina Ioan, 2012. "Discussions on n Substitutable Goods Production and Consumption," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 4(4), pages 168-176, August.
    4. Catalin Angelo Ioan & Gina Ioan, 2012. "On the General Theory of Production Functions," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 5(5), pages 225-238, October.
    5. Alin Cristian Ioan & Catalin Angelo Ioan, 2011. "On The Nature of Level Hyper Surfaces in the Economic Theory," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 5(5), pages 143-149, October.
    6. Nicol`o Cangiotti & Mattia Sensi, 2020. "A geometric characterization of VES and Kadiyala-type production functions," Papers 2004.09617, arXiv.org.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alin Cristian Ioan, 2014. "A Study of Cobb-Douglas Production Function with Differential Geometry," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 10(6), pages 67-74, December.
    2. Growiec, Jakub & Mućk, Jakub, 2020. "Isoelastic Elasticity Of Substitution Production Functions," Macroeconomic Dynamics, Cambridge University Press, vol. 24(7), pages 1597-1634, October.
    3. Knoblach, Michael & Rößler, Martin & Zwerschke, Patrick, 2016. "The Elasticity of Factor Substitution Between Capital and Labor in the U.S. Economy: A Meta-Regression Analysis," CEPIE Working Papers 03/16, Technische Universität Dresden, Center of Public and International Economics (CEPIE).
    4. Nicol`o Cangiotti & Mattia Sensi, 2020. "A geometric characterization of VES and Kadiyala-type production functions," Papers 2004.09617, arXiv.org.
    5. Tomáš Evan & Ilya Bolotov, . "Measuring Mancur Olson: What is the Influence of Culture, Institutions and Policies on Economic Development?," Prague Economic Papers, Prague University of Economics and Business, vol. 0.
    6. Catalin Angelo Ioan, 2010. "A Generalization of Some Production Functions," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 1(1), pages 110-123, March.
    7. Vladimir Gorbunov & Alexander Lvov, 2018. "Effective Production Funds and Production Functions of Regional Small Business," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(2), pages 502-515.
    8. Catalin Angelo Ioan & Gina Ioan, 2012. "An Analysis of the Substitution Effect and of Revenue Effect in the Case of the Consumer’s Theory Provided with a CES Utility Function," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 1(1), pages 164-175, March.
    9. Catalin Angelo Ioan, 2009. "The Production Functions from the Point of View of 3- Dimensional Geometry," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 1(1), pages 7-15, September.
    10. Paul, Saumik, 2019. "Labor Income Share Dynamics with Variable Elasticity of Substitution," IZA Discussion Papers 12418, Institute of Labor Economics (IZA).
    11. Saad Labyad & Mehdi Senouci, 2018. "Deriving multiple-input production and utility functions from elasticities of substitution functions ," Working Papers hal-01866275, HAL.
    12. Paul, Saumik, 2019. "A Decline in Labor's Share with Capital Accumulation and Complementary Factor Inputs: An Application of the Morishima Elasticity of Substitution," IZA Discussion Papers 12219, Institute of Labor Economics (IZA).
    13. Frédéric Reynès, 2011. "The cobb-douglas function as an approximation of other functions," SciencePo Working papers Main hal-01069515, HAL.
    14. H. Georg Schulze, 2010. "Ein Modell der Ekonomie als System von neuronalen Netzwerken - Ein Umriss [Connectionist Economics - An Outline]," Post-Print hal-01492977, HAL.
    15. repec:spo:wpmain:info:hdl:2441/1cpd872l2j8lb968d53pu5f30q is not listed on IDEAS
    16. Alexandra Naumenko & Seyyed Ali Zeytoon Nejad Moosavian, 2016. "Clarifying Theoretical Intricacies through the Use of Conceptual Visualization: Case of Production Theory in Advanced Microeconomics," Applied Economics and Finance, Redfame publishing, vol. 3(4), pages 103-122, November.
    17. Jo, Ara & Miftakhova, Alena, 2024. "How constant is constant elasticity of substitution? Endogenous substitution between clean and dirty energy," Journal of Environmental Economics and Management, Elsevier, vol. 125(C).
    18. Alin Cristian Ioan & Catalin Angelo Ioan, 2011. "On The Nature of Level Hyper Surfaces in the Economic Theory," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 5(5), pages 143-149, October.
    19. Constantin Chilarescu, 2021. "A production function with variable elasticity of substitution greater than one," Economics Bulletin, AccessEcon, vol. 41(3), pages 1741-1746.
    20. Jakub Growiec, 2008. "A new class of production functions and an argument against purely labor‐augmenting technical change," International Journal of Economic Theory, The International Society for Economic Theory, vol. 4(4), pages 483-502, December.
    21. Sephorah Mangin, 2012. "A Unified Production and Matching Function: Implications for Factor Shares," 2012 Meeting Papers 500, Society for Economic Dynamics.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:apeclt:v:18:y:2011:i:18:p:1777-1784. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/RAEL20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.