Cobb-Douglas
The Cobb-Douglas functional form of production functions in economics is widely used to represent the relationship of an output to inputs.
The form is estimated as a linear relationship using the following expression
where
- O = Output
- Ii = Inputs
- ai = model coefficients
It was developed Paul Douglas and Richard Cobb.
It has been generalized in the translog functional form.
Referenced By
Paul Douglas | Paul Howard Douglas | Transport economics
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