A Theorem on Homogeneous Functions and Extended Cobb-Douglas Forms
Abstract
A form for homogeneous functions is presented which shows them to be a very simple extension of the wellknown Cobb-Douglas functions with similar properties in production (and distribution) economics. This form thus suggests new possibilities for interpreting a wide variety of empirical and theoretical results in economics; it also provides contact with developments in other fields, such as information theory and geometric programming.
- Publication:
-
Proceedings of the National Academy of Science
- Pub Date:
- October 1976
- DOI:
- 10.1073/pnas.73.10.3747
- Bibcode:
- 1976PNAS...73.3747C