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List of production functions

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2454: 2069: 1245: 501: 1841: 2281: 1370: 35:. For a much more extensive discussion of various types of production functions and their properties, their relationships and origin, see Chambers (1988) and Sickles and Zelenyuk (2019, Chapter 6). 46:(L), mostly for heuristic purposes. These functions and their properties are easily generalizable to include additional factors of production (like land, natural resources, entrepreneurship, etc.) 1892: 1729: 1569: 1642: 853: 626: 379: 1022: 969: 1469: 2184: 940: 1883:
Cost Function (because of the duality between cost and production functions, a specific technology can be represented equally well by either the cost or production function).
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Sickles, R., & Zelenyuk, V. (2019). Measurement of Productivity and Efficiency: Theory and Practice. Cambridge: Cambridge University Press. doi:10.1017/9781139565981
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There are three common ways to incorporate technology (or the efficiency with which factors of production are used) into a production function (here
1746: 2449:{\displaystyle x_{i}={\partial C \over \partial p_{i}}=b_{ii}y^{b_{yi}}+\textstyle \sum _{i\neq j}^{m}b_{ij}{\sqrt {p_{i}/p_{j}}}y^{b_{y}}} 1285: 1256:, a variation of the Cobb-Douglas production function that considers existence of a threshold factor requirement (represented by 2064:{\displaystyle C(p,y)=\sum _{i}b_{ii}\left(y^{b_{yi}}p_{i}+\sum _{j\,:\,j\neq i}b_{ij}{\sqrt {p_{i}p_{j}}}y^{b_{y}}\right)} 791: 534: 2533: 1659: 1486: 1586: 1253: 803: 2582:
Diewert, W. Erwin. "An application of the Shephard duality theorem: A generalized Leontief production function."
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The production functions listed below, and their properties are shown for the case of two factors of production,
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Chambers, R. G. (1988). Applied Production Analysis: A Dual Approach. New York, NY: Cambridge University Press.
74: 546: 2602: 2545: 1240:{\displaystyle \ln(Y)=\ln(A)+a_{L}\ln(L)+a_{K}\ln(K)+b_{LL}\ln ^{2}(L)+b_{LK}\ln(L)\ln(K)+b_{KK}\ln ^{2}(K)} 252: 887: 234:
is a measure of how easily one factor can be substituted for another. With two factors of production, say,
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Production economics: A dual approach to theory and applications: Applications of the theory of production
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Nakamura, Shinichiro. "A nonhomothetic generalized Leontief cost function based on pooled data."
759: 631: 178: 129: 80: 991: 2189: 2186:. This cost function reduces to the well-known Generalized Leontief function of Diewert when 1650:
Spillman Production Function (This function is referenced in Agricultural Economics Research)
231: 2464: 2252: 1848: 697: 496:{\displaystyle \ slope=-{\frac {\partial F(K,L)/\partial K}{\partial F(K,L)/\partial L}}.} 8: 2226: 39: 19: 2491: 2232: 2077: 1259: 511: 43: 32: 28: 521:
Decreasing returns to scale: doubling all input usages less than doubles output.
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Increasing returns to scale: doubling all input usages more than doubles output.
2596: 1836:{\displaystyle Y=\min\{Y^{*},\beta _{1}+\beta _{2}L,\beta _{2}+\beta _{4}K\}} 985: 524:
Constant returns to scale: doubling all input usages exactly doubles output.
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https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1744-7976.1977.tb02884.x
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DECISION ASPECTS OF THE SPILLMAN PRODUCTION FUNCTION Janusz Jaworski 1977
24: 981: 243: 1365:{\displaystyle Y=A\prod _{i=1}^{n}(x_{i}-z_{i})^{\alpha _{i}}} 1383:
Variable Elasticity of Substitution Production Function (VES)
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literature. Production functions are a key part of modelling
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where "slope" denotes the slope of the isoquant, given by
2364: 2494: 2467: 2284: 2255: 2235: 2192: 2146: 2100: 2080: 1895: 1851: 1749: 1662: 1589: 1489: 1395: 1288: 1262: 1025: 994: 948: 902: 861: 806: 762: 700: 634: 549: 393: 255: 181: 132: 83: 1377: 242:, it is a measure of the curvature of a production 175:Solow-neutral technology, or "capital augmenting": 2500: 2480: 2448: 2268: 2241: 2214: 2178: 2132: 2086: 2063: 1864: 1835: 1724:{\displaystyle y=m-A\prod _{i=1}^{n}a_{i}^{x_{i}}} 1723: 1636: 1563: 1463: 1364: 1268: 1239: 1006: 963: 934: 873: 847: 777: 748: 661: 620: 495: 373: 214: 165: 126:Harrod-neutral technology, or "labor augmenting": 116: 2094:denotes the cost per unit output, the unit cost, 1872:is the maximal yield (considers capacity limits). 2594: 1756: 1564:{\displaystyle Y=Ae^{a_{1}K+a_{2}L}K^{1-b}L^{b}} 1637:{\displaystyle Y=AK^{\alpha }L^{1-\alpha }-mL} 848:{\displaystyle \ Y=AK^{\alpha }L^{1-\alpha }} 225: 1830: 1759: 70:is the amount of physical output produced): 2229:, we derive the demand function for input 688:Linear production (or perfect substitutes) 1990: 1986: 528: 2569:Fuss, Melvyn, and Daniel McFadden, eds. 621:{\displaystyle Y=A^{\frac {1}{\gamma }}} 230:The elasticity of substitution between 2595: 2558:The Review of Economics and Statistics 984:, a linear approximation of CES via a 792:Cobb–Douglas production function 374:{\displaystyle \ \epsilon =\left^{-1}} 677:which includes the special cases of: 1577:Constant Marginal Value Share (CMS) 964:{\displaystyle \gamma \to -\infty } 535:Constant elasticity of substitution 506: 13: 2309: 2301: 1477:Transcendental Production Function 1464:{\displaystyle Y=AK^{av}^{(1-a)v}} 958: 647: 481: 455: 447: 421: 300: 274: 246:. The mathematical definition is: 14: 2619: 2179:{\displaystyle \sum _{i}b_{ij}=1} 1378:Some Exotic Production Functions 935:{\displaystyle \ Y={\text{Min}}} 2576: 2563: 2550: 2538: 2527: 2518: 1911: 1899: 1737:von Liebig Production Function 1453: 1441: 1437: 1418: 1346: 1319: 1234: 1228: 1196: 1190: 1181: 1175: 1150: 1144: 1112: 1106: 1084: 1078: 1056: 1050: 1038: 1032: 952: 929: 917: 865: 743: 737: 725: 713: 656: 641: 604: 590: 578: 559: 473: 461: 439: 427: 317: 303: 295: 277: 209: 194: 160: 145: 111: 99: 66:is a production function, and 1: 2511: 2133:{\displaystyle b_{ij}=b_{ji}} 49: 2584:Journal of political economy 2488:denotes the amount of input 888:Leontief production function 874:{\displaystyle \gamma \to 0} 7: 778:{\displaystyle \ \gamma =1} 662:{\displaystyle \gamma \in } 215:{\displaystyle \ Y=F(AK,L)} 166:{\displaystyle \ Y=F(K,AL)} 117:{\displaystyle \ Y=AF(K,L)} 23:that have been used in the 10: 2624: 794:(or imperfect complements) 226:Elasticity of substitution 77:, or "factor augmenting": 1007:{\displaystyle \gamma =0} 2215:{\displaystyle b_{yi}=0} 890:(or perfect complements) 75:Hicks-neutral technology 2502: 2482: 2450: 2385: 2270: 2243: 2216: 2180: 2134: 2088: 2065: 1881:Generalized Ozaki (GO) 1866: 1837: 1725: 1698: 1638: 1565: 1465: 1366: 1318: 1270: 1241: 1008: 965: 936: 875: 849: 779: 750: 663: 622: 529:Some widely used forms 497: 375: 216: 167: 118: 2586:79.3 (1971): 481-507. 2503: 2483: 2481:{\displaystyle a_{i}} 2451: 2365: 2271: 2269:{\displaystyle x_{i}} 2244: 2217: 2181: 2135: 2089: 2066: 1867: 1865:{\displaystyle Y^{*}} 1838: 1726: 1678: 1639: 1566: 1466: 1367: 1298: 1271: 1242: 1009: 966: 937: 876: 850: 780: 751: 749:{\displaystyle \ Y=A} 664: 623: 498: 376: 232:factors of production 217: 168: 119: 2603:Production economics 2508:per unit of output. 2492: 2465: 2282: 2253: 2233: 2190: 2144: 2098: 2078: 1893: 1849: 1747: 1660: 1587: 1487: 1393: 1286: 1260: 1023: 992: 946: 900: 859: 804: 760: 698: 632: 547: 391: 253: 179: 130: 81: 20:production functions 1720: 2498: 2478: 2446: 2445: 2266: 2239: 2212: 2176: 2156: 2130: 2084: 2061: 2001: 1926: 1862: 1833: 1721: 1699: 1634: 1561: 1461: 1362: 1266: 1237: 1004: 961: 932: 871: 845: 775: 746: 659: 618: 493: 371: 212: 163: 114: 2573:. Elsevier, 2014. 2501:{\displaystyle i} 2426: 2323: 2242:{\displaystyle i} 2147: 2087:{\displaystyle c} 2037: 1978: 1917: 1269:{\displaystyle z} 986:Taylor polynomial 915: 905: 809: 765: 703: 615: 488: 396: 355: 321: 258: 184: 135: 86: 2615: 2587: 2580: 2574: 2567: 2561: 2560:(1990): 649-656. 2554: 2548: 2542: 2536: 2531: 2525: 2522: 2507: 2505: 2504: 2499: 2487: 2485: 2484: 2479: 2477: 2476: 2455: 2453: 2452: 2447: 2444: 2443: 2442: 2441: 2427: 2425: 2424: 2415: 2410: 2409: 2400: 2398: 2397: 2384: 2379: 2360: 2359: 2358: 2357: 2340: 2339: 2324: 2322: 2321: 2320: 2307: 2299: 2294: 2293: 2275: 2273: 2272: 2267: 2265: 2264: 2248: 2246: 2245: 2240: 2227:Shephard's lemma 2225:By applying the 2221: 2219: 2218: 2213: 2205: 2204: 2185: 2183: 2182: 2177: 2169: 2168: 2155: 2139: 2137: 2136: 2131: 2129: 2128: 2113: 2112: 2093: 2091: 2090: 2085: 2070: 2068: 2067: 2062: 2060: 2056: 2055: 2054: 2053: 2052: 2038: 2036: 2035: 2026: 2025: 2016: 2014: 2013: 2000: 1974: 1973: 1964: 1963: 1962: 1961: 1939: 1938: 1925: 1871: 1869: 1868: 1863: 1861: 1860: 1842: 1840: 1839: 1834: 1826: 1825: 1813: 1812: 1797: 1796: 1784: 1783: 1771: 1770: 1730: 1728: 1727: 1722: 1719: 1718: 1717: 1707: 1697: 1692: 1643: 1641: 1640: 1635: 1624: 1623: 1608: 1607: 1570: 1568: 1567: 1562: 1560: 1559: 1550: 1549: 1534: 1533: 1529: 1528: 1513: 1512: 1470: 1468: 1467: 1462: 1460: 1459: 1417: 1416: 1371: 1369: 1368: 1363: 1361: 1360: 1359: 1358: 1344: 1343: 1331: 1330: 1317: 1312: 1276:) of each output 1275: 1273: 1272: 1267: 1246: 1244: 1243: 1238: 1224: 1223: 1214: 1213: 1168: 1167: 1140: 1139: 1130: 1129: 1099: 1098: 1071: 1070: 1013: 1011: 1010: 1005: 970: 968: 967: 962: 941: 939: 938: 933: 916: 913: 903: 880: 878: 877: 872: 854: 852: 851: 846: 844: 843: 828: 827: 807: 784: 782: 781: 776: 763: 755: 753: 752: 747: 701: 668: 666: 665: 660: 627: 625: 624: 619: 617: 616: 608: 602: 601: 574: 573: 512:Returns to scale 507:Returns to scale 502: 500: 499: 494: 489: 487: 480: 453: 446: 419: 394: 380: 378: 377: 372: 370: 369: 361: 357: 356: 354: 337: 333: 324: 322: 320: 313: 298: 272: 256: 221: 219: 218: 213: 182: 172: 170: 169: 164: 133: 123: 121: 120: 115: 84: 2623: 2622: 2618: 2617: 2616: 2614: 2613: 2612: 2608:Economics lists 2593: 2592: 2591: 2590: 2581: 2577: 2568: 2564: 2555: 2551: 2543: 2539: 2532: 2528: 2523: 2519: 2514: 2493: 2490: 2489: 2472: 2468: 2466: 2463: 2462: 2437: 2433: 2432: 2428: 2420: 2416: 2411: 2405: 2401: 2399: 2390: 2386: 2380: 2369: 2350: 2346: 2345: 2341: 2332: 2328: 2316: 2312: 2308: 2300: 2298: 2289: 2285: 2283: 2280: 2279: 2260: 2256: 2254: 2251: 2250: 2234: 2231: 2230: 2222:for all inputs. 2197: 2193: 2191: 2188: 2187: 2161: 2157: 2151: 2145: 2142: 2141: 2121: 2117: 2105: 2101: 2099: 2096: 2095: 2079: 2076: 2075: 2048: 2044: 2043: 2039: 2031: 2027: 2021: 2017: 2015: 2006: 2002: 1982: 1969: 1965: 1954: 1950: 1949: 1945: 1944: 1940: 1931: 1927: 1921: 1894: 1891: 1890: 1856: 1852: 1850: 1847: 1846: 1821: 1817: 1808: 1804: 1792: 1788: 1779: 1775: 1766: 1762: 1748: 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685: 684: 683: 682: 676: 675: 674: 673: 653: 650: 644: 638: 635: 612: 609: 598: 594: 587: 584: 581: 575: 570: 566: 562: 556: 553: 550: 543: 542: 541: 540: 536: 533: 532: 523: 520: 517: 516: 515: 513: 490: 484: 477: 470: 467: 464: 458: 450: 443: 436: 433: 430: 424: 415: 412: 409: 406: 403: 400: 397: 387: 386: 385: 366: 363: 358: 351: 348: 345: 342: 339: 334: 330: 326: 314: 310: 306: 292: 289: 286: 283: 280: 267: 262: 259: 249: 248: 247: 245: 241: 237: 233: 206: 203: 200: 197: 191: 188: 185: 174: 157: 154: 151: 148: 142: 139: 136: 125: 108: 105: 102: 96: 93: 90: 87: 76: 73: 72: 71: 69: 65: 61: 57: 47: 45: 41: 36: 34: 30: 26: 22: 21: 2583: 2578: 2570: 2565: 2557: 2552: 2540: 2529: 2520: 2460: 510: 383: 239: 235: 229: 67: 63: 60:scale factor 55: 53: 37: 17: 15: 1254:Stone-Geary 2597:Categories 2512:References 50:Technology 16:This is a 2374:≠ 2367:∑ 2310:∂ 2302:∂ 2149:∑ 1995:≠ 1980:∑ 1919:∑ 1858:∗ 1819:β 1806:β 1790:β 1777:β 1768:∗ 1680:∏ 1673:− 1626:− 1621:α 1618:− 1605:α 1544:− 1448:− 1352:α 1333:− 1300:∏ 1226:⁡ 1188:⁡ 1173:⁡ 1142:⁡ 1104:⁡ 1076:⁡ 1048:⁡ 1030:⁡ 996:γ 959:∞ 956:− 953:→ 950:γ 866:→ 863:γ 841:α 838:− 825:α 767:γ 735:α 732:− 717:α 648:∞ 645:− 639:∈ 636:γ 613:γ 599:γ 588:α 585:− 571:γ 563:α 482:∂ 456:∂ 448:∂ 422:∂ 416:− 364:− 301:∂ 275:∂ 260:ϵ 42:(K), and 25:economics 982:Translog 244:isoquant 18:list of 628:, with 514:can be 40:capital 2461:Here, 2140:, and 2074:where 1845:where 988:about 904:  808:  764:  702:  395:  257:  183:  134:  85:  942:when 855:when 756:when 58:is a 44:labor 1879:The 238:and 31:and 1757:min 914:Min 2599:: 2249:, 1217:ln 1185:ln 1170:ln 1133:ln 1101:ln 1073:ln 1045:ln 1027:ln 62:, 2496:i 2474:i 2470:a 2439:y 2435:b 2430:y 2422:j 2418:p 2413:/ 2407:i 2403:p 2395:j 2392:i 2388:b 2382:m 2377:j 2371:i 2362:+ 2355:i 2352:y 2348:b 2343:y 2337:i 2334:i 2330:b 2326:= 2318:i 2314:p 2305:C 2296:= 2291:i 2287:x 2276:: 2262:i 2258:x 2237:i 2210:0 2207:= 2202:i 2199:y 2195:b 2174:1 2171:= 2166:j 2163:i 2159:b 2153:i 2126:i 2123:j 2119:b 2115:= 2110:j 2107:i 2103:b 2082:c 2071:. 2058:) 2050:y 2046:b 2041:y 2033:j 2029:p 2023:i 2019:p 2011:j 2008:i 2004:b 1998:i 1992:j 1988:: 1984:j 1976:+ 1971:i 1967:p 1959:i 1956:y 1952:b 1947:y 1942:( 1936:i 1933:i 1929:b 1923:i 1915:= 1912:) 1909:y 1906:, 1903:p 1900:( 1897:C 1854:Y 1831:} 1828:K 1823:4 1815:+ 1810:2 1802:, 1799:L 1794:2 1786:+ 1781:1 1773:, 1764:Y 1760:{ 1754:= 1751:Y 1715:i 1711:x 1705:i 1701:a 1695:n 1690:1 1687:= 1684:i 1676:A 1670:m 1667:= 1664:y 1632:L 1629:m 1615:1 1611:L 1601:K 1597:A 1594:= 1591:Y 1557:b 1553:L 1547:b 1541:1 1537:K 1531:L 1526:2 1522:a 1518:+ 1515:K 1510:1 1506:a 1501:e 1497:A 1494:= 1491:Y 1457:v 1454:) 1451:a 1445:1 1442:( 1438:] 1434:K 1431:a 1428:b 1425:+ 1422:L 1419:[ 1414:v 1411:a 1407:K 1403:A 1400:= 1397:Y 1356:i 1347:) 1341:i 1337:z 1328:i 1324:x 1320:( 1315:n 1310:1 1307:= 1304:i 1296:A 1293:= 1290:Y 1264:z 1235:) 1232:K 1229:( 1221:2 1211:K 1208:K 1204:b 1200:+ 1197:) 1194:K 1191:( 1182:) 1179:L 1176:( 1165:K 1162:L 1158:b 1154:+ 1151:) 1148:L 1145:( 1137:2 1127:L 1124:L 1120:b 1116:+ 1113:) 1110:K 1107:( 1096:K 1092:a 1088:+ 1085:) 1082:L 1079:( 1068:L 1064:a 1060:+ 1057:) 1054:A 1051:( 1042:= 1039:) 1036:Y 1033:( 1002:0 999:= 930:] 927:L 924:, 921:K 918:[ 910:= 907:Y 869:0 835:1 831:L 821:K 817:A 814:= 811:Y 773:1 770:= 744:] 741:L 738:) 729:1 726:( 723:+ 720:K 714:[ 711:A 708:= 705:Y 657:] 654:1 651:, 642:[ 610:1 605:] 595:L 591:) 582:1 579:( 576:+ 567:K 560:[ 557:A 554:= 551:Y 491:. 485:L 478:/ 474:) 471:L 468:, 465:K 462:( 459:F 451:K 444:/ 440:) 437:L 434:, 431:K 428:( 425:F 413:= 410:e 407:p 404:o 401:l 398:s 367:1 359:] 352:e 349:p 346:o 343:l 340:s 335:K 331:/ 327:L 318:) 315:K 311:/ 307:L 304:( 296:) 293:e 290:p 287:o 284:l 281:s 278:( 268:[ 263:= 240:L 236:K 210:) 207:L 204:, 201:K 198:A 195:( 192:F 189:= 186:Y 161:) 158:L 155:A 152:, 149:K 146:( 143:F 140:= 137:Y 112:) 109:L 106:, 103:K 100:( 97:F 94:A 91:= 88:Y 68:Y 64:F 56:A

Index

production functions
economics
national output
national income
capital
labor
scale factor
Hicks-neutral technology
factors of production
isoquant
Returns to scale
Constant elasticity of substitution
Cobb–Douglas production function
Leontief production function
Translog
Taylor polynomial
Stone-Geary
Generalized Ozaki (GO)
Shephard's lemma
Sickles, R., & Zelenyuk, V. (2019). Measurement of Productivity and Efficiency: Theory and Practice. Cambridge: Cambridge University Press. doi:10.1017/9781139565981
https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1744-7976.1977.tb02884.x
Categories
Production economics
Economics lists

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