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A note on the Cobb-Douglas function

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  • Richard Vale

Abstract

This note observes that the Cobb-Douglas function is uniquely characterized by the property that, if the labour share of cost for a constant-returns-to-scale firm remains constant when the firm minimizes its cost for any given output level, then the firm's production function must be Cobb-Douglas.

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  • Richard Vale, 2024. "A note on the Cobb-Douglas function," Papers 2411.08067, arXiv.org.
    • Handle: RePEc:arx:papers:2411.08067
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    File URL: http://arxiv.org/pdf/2411.08067
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