Constant Elasticity of Substitution production function
GPTKB entity
Statements (26)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
production function
|
| gptkbp:abbreviation |
gptkb:CES_production_function
|
| gptkbp:characteristic |
constant elasticity of substitution between inputs
|
| gptkbp:field |
economics
production theory |
| gptkbp:form |
Y = A [αK^ρ + (1-α)L^ρ]^{1/ρ}
|
| gptkbp:generalizes |
gptkb:Cobb-Douglas_production_function
gptkb:Leontief_production_function |
| gptkbp:hasSpecialCase |
Cobb-Douglas production function when ρ → 0
Leontief production function when ρ → -∞ |
| https://www.w3.org/2000/01/rdf-schema#label |
Constant Elasticity of Substitution production function
|
| gptkbp:input |
gptkb:city
labor |
| gptkbp:introduced |
Arrow, Chenery, Minhas, and Solow
|
| gptkbp:introducedIn |
1961
|
| gptkbp:parameter |
elasticity of substitution
distribution parameter (α) scale parameter (A) substitution parameter (ρ) |
| gptkbp:relatedConcept |
production function
elasticity of substitution |
| gptkbp:usedFor |
modeling production processes
|
| gptkbp:usedIn |
macroeconomics
microeconomics |
| gptkbp:bfsParent |
gptkb:CES_production_function
|
| gptkbp:bfsLayer |
8
|