A Note on the Symmetry of Homogeneous Production Function and the Three Stages of Production

1958 ◽  
Vol 40 (3) ◽  
pp. 756 ◽  
Author(s):  
Yair Mundlak
Keyword(s):  
Production Function ◽  
Homogeneous Production ◽  
Three Stages ◽  
Homogeneous Production Function

scholarly journals On Quasi-Homogeneous Production Functions

Symmetry ◽  
2019 ◽  
Vol 11 (8) ◽  
pp. 976 ◽  
Author(s):  
Alina-Daniela Vîlcu ◽  
Gabriel-Eduard Vîlcu
Keyword(s):  
Production Function ◽  
Production Functions ◽  
Marginal Rate ◽  
Constant Elasticity ◽  
Marginal Rate Of Substitution ◽  
Production Models ◽  
Homogeneous Production ◽  
Rate Of Substitution ◽  
Homogeneous Production Function

In this paper, we investigate the class of quasi-homogeneous production models, obtaining the classification of such models with constant elasticity with respect to an input as well as with respect to all inputs. Moreover, we prove that a quasi-homogeneous production function f satisfies the proportional marginal rate of substitution property if and only f reduces to some symmetric production functions.

scholarly journals Productivity Development in Selected Central European Countries Measured by the Sato Production Function

2018 ◽  
Vol 18 (4) ◽  
pp. 353-370 ◽  
Author(s):  
Lenka Roubalová ◽  
Lenka Viskotová
Keyword(s):  
Production Function ◽  
Technological Progress ◽  
Marginal Rate ◽  
Central European ◽  
Economic Output ◽  
Homogeneous Production ◽  
The Relationship ◽  
Special Case ◽  
Over Time ◽  
Homogeneous Production Function

Abstract In this paper, we investigate the relationship between economic output, labour and capital in the Visegrád Four, Austria and Germany. The main objective is to determine the type of technological progress in these countries over time, specifically in the period 1995-2015. The Sato production functions (a special case of the linearly homogeneous production function) for all the aforementioned countries are estimated using linear and nonlinear techniques. In addition to the original Sato production function, we propose modifying it in using a time variable, which allows us to analyse the development of productivity over time. Based on the NLS estimates of this modification, we create isoquant maps and calculate the value of the marginal rate of technical substitution of labour for capital to identify the nature of technological progress typical for each country. We also compare the properties of both the OLS and NLS estimates. The results are quite specific to individual countries, but there is some room for generalization.

scholarly journals A geometric characterization of homogeneous production models in economics

Filomat ◽  
2016 ◽  
Vol 30 (13) ◽  
pp. 3465-3471 ◽  
Author(s):  
Xiaoshu Wang
Keyword(s):  
Sectional Curvature ◽  
Production Function ◽  
Geometric Characterization ◽  
Production Functions ◽  
Constant Return ◽  
Production Models ◽  
Graph Hypersurfaces ◽  
Homogeneous Production ◽  
Homogeneous Production Function

In this paper, we give a simple geometric characterization of homogeneous production functions, by studying geometric properties of their associated graph hypersurfaces. For a homogeneous production function, we prove that its corresponding hypersurface with constant sectional curvature must be flat. Therefore, by combining this with Chen and V?lcu?s recent results, we obtain a new geometric characterization of homogeneous production functions having constant return to scale.

INFRASTRUCTURE DEFICIT AND THE PERFORMANCE OF SMALL AND MEDIUM-SIZED ENTERPRISE IN THE POST COVID-19 NIGERIAN ECONOMY

2020 ◽  
Vol 8 (1) ◽  
pp. 1-11
Author(s):  
Cyprian Abur ◽  
Keyword(s):  
Production Function ◽  
Sampling Technique ◽  
The State ◽  
Descriptive Statistics ◽  
Multiplier Effect ◽  
Three Stages ◽  
The Government ◽  
And Performance ◽  
Douglas Production Function ◽  
Analyze Data

Infrastructure is one of the most critical factors for economic development in the post-COVID -19 because it will interact with the economy through the production processes and this will greatly impact the production and performance of SMEs in terms of output, income, and employment. This paper examines the effect of infrastructure deficit on the performance of small and medium-sized enterprises in Benue State. The study is aimed at identifying the state of infrastructure and the effect of infrastructure deficit on the performance of small and medium-sized enterprises in Nigeria. Three stages random sampling technique was employedtoselect750 SME’s in Nigeria. The study employed descriptive statistics and the Cobb-Douglas Production Function to analyze data. The descriptive statistics resultsshowthat88.9 percent of the SMEs emphasized that the state of infrastructure is poor in Nigeria while 79.1 percent of SMEs opined that poor state of infrastructure increased their cost of operation in the post-COVID -19.The Cobb-Douglas Production Function result showed that infrastructure deficit hurts the performance of small and medium-sized enterprises in Nigeria in the post-COVID -19.Thestudyconcludesthatinfrastructure has a multiplier effect on SMEs ’income. Deficiency infrastructure hampered the development of SME’s and this translates in to a fall in income, low revenue to the government as well as increase unemployment. The study recommended that governments should make policies that are infrastructure driven in other to encourage and allow entrepreneurs to gain more access to infrastructure to reduce cost and enhance SMEs' performance.

scholarly journals On Homogeneous Production Functions with Proportional Marginal Rate of Substitution

2013 ◽  
Vol 2013 ◽  
pp. 1-5 ◽  
Author(s):  
Alina Daniela Vîlcu ◽  
Gabriel Eduard Vîlcu
Keyword(s):  
Production Function ◽  
Production Functions ◽  
Marginal Rate ◽  
Constant Elasticity ◽  
Marginal Rate Of Substitution ◽  
Homogeneous Production ◽  
Rate Of Substitution

We completely classify homogeneous production functions with proportional marginal rate of substitution and with constant elasticity of labor and capital, respectively. These classifications generalize some recent results of C. A. Ioan and G. Ioan (2011) concerning the sum production function.

scholarly journals Classification of $h$-homogeneous production functions with constant elasticity of substitution

2012 ◽  
Vol 43 (2) ◽  
pp. 321-328 ◽  
Author(s):  
Bang-Yen Chen
Keyword(s):  
Production Function ◽  
Production Functions ◽  
Elasticity Of Substitution ◽  
Aggregate Level ◽  
Firm Level ◽  
Constant Elasticity ◽  
Constant Elasticity Of Substitution ◽  
Homogeneous Production ◽  
Almost All

Almost all economic theories presuppose a production function, either on the firm level or the aggregate level. In this sense the production function is one of the key concepts of mainstream neoclassical theories. There is a very important class of production functions that are often analyzed in both microeconomics and macroeonomics; namely, $h$-homogeneous production functions. This class of production functions includes two important production functions; namely, the generalized Cobb-Douglas production functions and ACMS production functions. It was proved in 2010 by L. Losonczi \cite{L} that twice differentiable two-inputs $h$-homogeneous production functions with constant elasticity of substitution (CES) property are Cobb-Douglas' and ACMS production functions. Lozonczi also pointed out in \cite{L} that his proof does not work for production functions of $n$-inputs with $n>2$

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