Statements (33)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
public utility
|
| gptkbp:application |
modeling consumer preferences
modeling production functions |
| gptkbp:characterizedBy |
constant elasticity of substitution between inputs
|
| gptkbp:domain |
positive real numbers
|
| gptkbp:form |
U = [aX^ρ + (1-a)Y^ρ]^{1/ρ}
|
| gptkbp:fullName |
Constant Elasticity of Substitution utility function
|
| gptkbp:generalizes |
Cobb-Douglas utility function
Leontief utility function linear utility function |
| gptkbp:hasSpecialCase |
public utility
|
| https://www.w3.org/2000/01/rdf-schema#label |
CES utility function
|
| gptkbp:introduced |
gptkb:Kenneth_Arrow
gptkb:Leonid_Hurwicz gptkb:Hirofumi_Uzawa |
| gptkbp:introducedIn |
1961
|
| gptkbp:limitation |
Cobb-Douglas utility function (when ρ→0)
Leontief utility function (when ρ→-∞) linear utility function (when ρ→1) |
| gptkbp:parameter |
σ
a ρ |
| gptkbp:property |
homothetic
invariant to monotonic transformations |
| gptkbp:relatedTo |
gptkb:CES_production_function
|
| gptkbp:signature |
elasticity of substitution
|
| gptkbp:usedIn |
economics
microeconomics production theory consumer theory |
| gptkbp:ρ |
substitution parameter
|
| gptkbp:bfsParent |
gptkb:Melitz_model
|
| gptkbp:bfsLayer |
7
|