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Journal articles on the topic 'Production function (Economic theory)'

Author: Grafiati

Published: 4 June 2021

Last updated: 27 July 2025

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1

Mukhin, А. А. "THE USE OF COBB-DOUGLAS PRODUCTION FUNCTION IN MODELING PRODUCTION PROCESSES." Bulletin of Udmurt University. Series Economics and Law 30, no. 6 (2020): 822–29. http://dx.doi.org/10.35634/2412-9593-2020-30-6-822-829.

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Several alternative economic approaches to the study of organization are discussed in the literature: the neoclassical theory, the theory of transaction costs (the theory of specific assets), the theory of incomplete contracts (the theory of property rights), and the Agency theory (the theory of incentives). Recently, there have been approaches at the intersection of Economics and management: resource theory, knowledge theory, strategic theory, entrepreneurial theory; in the framework of sociology: network theory, the theory of resource dependence, the theory of institutional isomorphism, the

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2

Grassetti, Francesca, and Gevorg Hunanyan. "On the economic growth theory with Kadiyala production function." Communications in Nonlinear Science and Numerical Simulation 58 (May 2018): 220–32. http://dx.doi.org/10.1016/j.cnsns.2017.06.036.

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3

Schilir`o, Daniele. "A Glance at Solow’s Growth Theory." Journal of Mathematical Economics and Finance 3, no. 2(5) (2018): 83. http://dx.doi.org/10.14505/jmef.v3.2(5).04.

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This article examines the growth theory of Robert Solow1 , which has been a point of reference of economic growth since the 1950s. First, the article analyzes the path-breaking model of growth contained in Solow’s article “A Contribution to the Theory of Economic Growt” published in The Quarterly Journal of Economics (1956). Second, it looks at the contribution of Solow to growth accounting and to the new method of studying capital formation in economic growth through the vintage ap- proach. Therefore, the work analyzes the article “Technical Change and the Aggregate Production Function” publi

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4

Khrushch, L. Z. "Application of duality theory to solve two-criteria problem of linear programming for ecological-economic system." Carpathian Mathematical Publications 10, no. 2 (2018): 324–32. http://dx.doi.org/10.15330/cmp.10.2.324-332.

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In the paper, we investigate two-criterion optimization problem: maximization of one target function and minimization of another target function. To solve the offered two-criterion problem, the method of the main criterion is applied. We consider the problem of production activity of the ecological-economic system with the maximization of the value of the final product as the first target function and the minimization of emissions of polluters into the environment as the second target function. We constructed of two production functions (economic and ecological). To construct the economic prod

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5

Cheng, Maolin, and Zedi Jiang. "A New Class of Production Function Model and Its Application." Journal of Systems Science and Information 4, no. 2 (2016): 177–85. http://dx.doi.org/10.21078/jssi-2016-177-09.

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AbstractUnder some circumstances, the studies on economic growth theory can be translated into the researches on production function which will beneficial for the government to analyze the pattern of economic growth and then make reasonable policies. The commonly used production functions include C-D production function, CES production function, VES production function with different elasticity of substitution. This paper will put forward to a new class of production function which elasticity of substitutionσis a non-linear function ofK/L. With this new model, a calculation formula for accurat

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Lyudmila, Kalinichenko, and Tkachov Maxim. "Compliance function as a factor in ensuring the economic security of an industrial enterprise." Economics: time realities. Scientific journal 6, no. 40 (2018): 46–51. https://doi.org/10.5281/zenodo.2597589.

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The article is devoted to questions of adaptation of the theory and practice of compliance-function to the conditions of production and commercial activity of industrial enterprise in order to ensure its economic security. It has been proved that the stable and dynamic development of an industrial enterprise, its efficiency and competitiveness are closely linked to economic security. The essence of the compliant function and its main elements is substantiated; the possibilities of practical use of compliance in the industrial enterprises are disclosed in order to ensure their economic security

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7

Zhang, Wei-Bin. "A Discrete Two-Sector Economic Growth Model." Discrete Dynamics in Nature and Society 2007 (2007): 1–13. http://dx.doi.org/10.1155/2007/89464.

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This paper studies a key model in economic theory—the two-sector growth model—with an alternative utility function. We show that the system has a unique stable equilibrium when the production functions take on the Cobb-Douglas form. We also simulate the model and demonstrate effects of changes in some parameters.

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8

Chernyshenko, Olena. "Cost as an Economic Category." Economic journal Odessa polytechnic university 3, no. 29 (2024): 70–79. https://doi.org/10.5281/zenodo.13858116.

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The article determines that the scientific and theoretical essence of the prime cost as an economic category largely depends on the scope of use of this term, among which economic theory, accounting, financial management and international financial reporting standards are allocated. It is proposed to define the prime cost as the total material, financial and intellectual costs of enterprise for the creation, production and sale of products, expressed in financial (monetary) form, taking into account the socio-institutional costs. A number of production functions of the cost of production have

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9

Astanakulov, Olim, Zina Arsahanova, Meir Surilov, and Ahmed Gachaev. "History of human capital in economic theory." OOO "Zhurnal "Voprosy Istorii" 2022, no. 3-1 (2022): 193–98. http://dx.doi.org/10.31166/voprosyistorii202203statyi33.

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The neoliberal paradigm has put forward a conceptual and epistemological shift from neoclassical economics, suggesting that economic activity should not be the study of various mechanisms such as consumption, production and investment, but rather should be the study of interchangeable options. These interchangeable options will function within a spontaneous order that goes beyond the human will and must be maintained to ensure optimal and efficient allocation of limited resources. Moreover, based on the theory of human interests, it has been postulated that human capital is a key factor in eco

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10

Cromley, R. G., and D. M. Hanink. "A Financial-Economic von Thünen Model." Environment and Planning A: Economy and Space 21, no. 7 (1989): 951–60. http://dx.doi.org/10.1068/a210951.

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The von Thünen model of agricultural land use is reformulated in this paper as an investment decision in which the objectives of farmers range from total risk-aversion to profit-maximization. By means of a variant of the mean-variance model of contemporary portfolio theory, it is demonstrated that individual bid-rent functions depend on the nature of a farmer's utility function. Because farmers' objectives affect their bid-rent functions, the spatial pattern of agricultural production is also affected. The conventional result of the von Thünen model is shown to be a special case of the more ge

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ZARETSKAYA, Vera G., and Lyudmila M. OSINEVICH. "Measuring economic growth factors: Dynamic trends and prospects." Economic Analysis: Theory and Practice 23, no. 12 (2024): 2255–68. https://doi.org/10.24891/ea.23.12.2255.

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Subject. The article is devoted to measuring the factors of economic growth. Objectives. The purpose is to identify and measure economic growth factors in Russian regions. Methods. To analyze economic growth, the study employs the apparatus of production functions. The toolkit is based on the Cobb–Douglas production function, which, with the help of some transformations, takes a dimensionless form, namely, the resulting indicator is the growth of gross regional product, and the index of physical investment growth and employment growth in the region act as independent factors. Results. We built

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12

Kleiner, George. "Universal system of the production factors." Economics and the Mathematical Methods 58, no. 2 (2022): 22. http://dx.doi.org/10.31857/s042473880020011-1.

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In this article, based on the new theory of economic systems, we propose a universal concept of the factors of economic activity, suitable for modeling economic systems of various scales, nature, and purpose. The concept described in the article indicates the objective genesis of a unified system of aggregated factors of production, particular cases of which are the classical theory of factors of production, marginal theory of factors, and intellectual theory of factors. The first case is characteristic of the industrial economy; the second is characteristic of the industrial and post-industri

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Klump, Rainer, and Chris Papageorgiou. "Editorial introduction The CES production function in the theory and empirics of economic growth." Journal of Macroeconomics 30, no. 2 (2008): 599–600. http://dx.doi.org/10.1016/j.jmacro.2007.12.004.

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Altman, Morris. "Implications of smart decision-making and heuristics for production theory and material welfare." Mind & Society 18, no. 2 (2019): 167–79. http://dx.doi.org/10.1007/s11299-019-00219-y.

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Abstract Conventional theory assumes that economic agents perform at optimal levels of efficiency by definition and this is achieved when individuals behave in a particular fashion. Moreover, neoclassical production theory masks the process by which optimal output can be achieved. I argue that economic theory should be revised to incorporate some key findings of behavioural economics, while retaining the conventional theory’s normative ideal of optimum output whilst rejecting its normative procedural ideals of how to achieve optimality in production. I argue that neoclassical procedures can be

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Peng, Meng, Li Tan, Huan Li, et al. "Energy Transitions in Yunnan Province Based on Production Function Theory." Energies 16, no. 21 (2023): 7299. http://dx.doi.org/10.3390/en16217299.

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Yunnan is rich in renewable energy resources. An understanding of its energy structure and developmental trajectories would assist in enabling the design of suitable decarbonizing pathways and how to fit into the national 30–60 agenda. Drawing from endogenous growth theory and time series analysis, our study employs comparative functions and scenario assessments to predict the changes in the key economic indicators, such as GDP, industrial structure shifts, population, and urbanization rates, during the low-carbon transition. We further show energy structure patterns and intensity trends using

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Ilyina, Elena A., and Leonid A. Saraev. "On the theory of interaction of related economic systems." Vestnik of Samara University. Economics and Management 13, no. 3 (2022): 138–47. http://dx.doi.org/10.18287/2542-0461-2022-13-3-138-147.

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In the published article the process of interaction of several related economic systems, which, on the one hand, compete with each other for fixed assets, the necessary human capital and natural resources is examined. On the other hand, they complement and develop each other and form a single complex within which joint goods are produced, goods, services and financial resources are exchanged, etc. An economic-mathematical model of the dynamics of development and interaction of related economic systems is proposed, taking into account both their competition for resources and their cooperation i

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17

Wang, Xiaoshu, and Yu Fu. "Some Characterizations of the Cobb-Douglas and CES Production Functions in Microeconomics." Abstract and Applied Analysis 2013 (2013): 1–6. http://dx.doi.org/10.1155/2013/761832.

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It is well known that the study of the shape and the properties of the production possibility frontier is a subject of great interest in economic analysis. Vîlcu (Vîlcu, 2011) proved that the generalized Cobb-Douglas production function has constant return to scale if and only if the corresponding hypersurface is developable. Later on, the authors A. D. Vîlcu and G. E. Vîlcu, 2011 extended this result to the case of CES production function. Both results establish an interesting link between some fundamental notions in the theory of production functions and the differential geometry of hypersur

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18

Сорокин, Александр Иванович. "Economic Theory on Role and Place of Entrepreneur in Social Production." ЖУРНАЛ ПРАВОВЫХ И ЭКОНОМИЧЕСКИХ ИССЛЕДОВАНИЙ, no. 1 (March 15, 2022): 219–26. http://dx.doi.org/10.26163/gief.2022.47.46.031.

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В статье рассматривается эволюция взглядов видных представителей экономической науки разных поколений на роль, место и функции предпринимателя в процессе производства. Статья охватывает значительный временной период - с конца XVIII в. до середины XX в. Отправная точка проблемы это - «экономический человек», явленный А. Смитом как воплощение неуклонной силы рыночной экономики, двигающий экономику вперед и общество к процветанию. Однако признание в экономической науке тезис А. Смита получил далеко не сразу, выдержав серьезную конкуренцию альтернативных воззрений на проблему. И только в конце XX

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19

Kayimova, Z.A., and N.O. Raxmankulova. "INNOVATIVE ENTERPRISE CONCEPT: THEORY AND FORMATION." EURASIAN JOURNAL OF ACADEMIC RESEARCH 1, no. 3 (2021): 768–76. https://doi.org/10.5281/zenodo.5068389.

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The article discusses methods for defining the concept of entrepreneurial activity, tools for creating a favorable social climate in the country. The main theoretical concepts of predecessors are investigated. The innovation basis is the main priority of entrepreneurship. In the process of the progressive development of economic processes within the country, a special role is played by entrepreneurial structures, which form the skeleton of a single structure of production and sales chains of interaction between enterprises in the region.

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20

Senigaglia, Cristiana. "Economics, Ethics, and the Mediating Function of Corporate Organization." SDMIMD Journal of Management 5, no. 1 (2014): 35. http://dx.doi.org/10.18311/sdmimd/2014/2671.

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The study features the problem of the relationship between economics and ethics, highlights the ethical aspects related to economy, and raises the question on its self-ethicizing in a way which is compatible with the objectives of economy. By referring to Hegel's Economic-Philosophical Theory, it stresses the fundamental function ascribed to corporate organizations which can overcome the deficiencies and the potential of conflict which accompanies an economic behaviour exclusively guided by rationally calculated self-interest. Corporate organizations are considered as partly institutionalized

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21

Soukup, A. "Human capital, screening theory and education in agriculture." Agricultural Economics (Zemědělská ekonomika) 53, No. 10 (2008): 475–78. http://dx.doi.org/10.17221/928-agricecon.

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Human capital theory views education as a specific production factor and as a specific sort of capital. Besides this theory, alternative concepts of education were developed. Filter theory which is interested in the selective function of education and created a different point of view of economic analysis phenomena in education. Screening theory is similar and is interested in information of labor market attendants and their deciding. Signal equilibrium states are better or worse according to Pareto’s efficiency and according to the higher or lower difference between private and common educati

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22

Yankovyi, O., N. Basiurkina, H. Karpinska, L. Malyshenko, and V. Chernova. "The research of industrial production dynamics based on the tools of chaos theory." Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu, no. 2 (April 30, 2024): 133–39. http://dx.doi.org/10.33271/nvngu/2024-2/133.

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Purpose. To prove the possibility of improving the procedure for analyzing and forecasting the dynamics of economic systems through the comprehensive use of scientific achievements of chaos theory, namely: checking the trend stability of time series, studying their phase space, attractors, Lyapunov’s chaos indicators, the maximum length of a reliable forecast of the socio-economic system development, etc. Methodology. The methodological basis of the study is the provisions of modern economic theory, in particular, statistics, economic and mathematical modeling and forecasting, economic cyberne

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Khasanah, Uswatun, and Hadi Sasana. "Significance of Gender Equality in Economic Growth." Research Horizon 2, no. 2 (2022): 374–80. http://dx.doi.org/10.54518/rh.2.2.2022.374-380.

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This article aims to conceptually describe the relationship between the importance of gender equality in economy. By using theoretical foundations in Production Function: Theory Development, the results showed that good economic activities must promote gender equality through various means, such as economic development, expanding job opportunities, increasing worker productivity, and urging a new job market. This growth can eliminate economic inefficiencies and increase women's and men's economic involvement. As income increases, the gender gap in health, learning, and nutrition tends to decre

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24

Rovigatti, Gabriele, and Vincenzo Mollisi. "Theory and Practice of Total-Factor Productivity Estimation: The Control Function Approach using Stata." Stata Journal: Promoting communications on statistics and Stata 18, no. 3 (2018): 618–62. http://dx.doi.org/10.1177/1536867x1801800307.

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Alongside instrumental-variables and fixed-effects approaches, the control function approach is the most widely used in production function estimation. Olley and Pakes (1996, Econometrica 64: 1263–1297), Levinsohn and Petrin (2003, Review of Economic Studies 70: 317–341), and Ackerberg, Caves, and Frazer (2015, Econometrica 83: 2411–2451) have all contributed to the field by proposing two-step estimation procedures, whereas Wooldridge (2009, Economics Letters 104: 112–114) showed how to perform a consistent estimation within a single-step generalized method of moments framework. In this articl

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Dróżdż, Aleksandra, and Jan Sztaudynger. "Modelowanie popytu na pracę." Wiadomości Statystyczne. The Polish Statistician 2009, no. 8 (2009): 39–46. http://dx.doi.org/10.59139/ws.2009.08.4.

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An estimation of the model of the demand for labour was discussed in the article. Production, investment rate and salaries were explanatory variables. Production and investment rate were introduced on the base of the neoclassical production function and the last variable - on the base of the neoclassical theory of the demand for labour. Special attention was paid to the investment rate which reflects not only the work substitution by physical capital but as well the expected economic trend. The hypothesis that in conditions of the high investment rate (economic boom) the negative substitution

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HOLOVACH, Volodymyr, and Tetiana HOLOVACH. "Theory of double entry in accounting." Economics. Finances. Law, no. 4/2 (April 30, 2020): 18–33. http://dx.doi.org/10.37634/efp.2020.4(2).4.

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The paper considers the existing theories of double entry, which took place at different historical stages of the existence of the accounting science. The main attention is paid to legal, economic, philosophical and balance theories. As a result of their analysis, it was found that the process of theoretical cognition of the double entry had natural character. Its formation began with the content definition of the economic phenomena's dual nature in the economic activity sphere. Scientists later tried to find out the causes of such phenomena and their impact on the double entry. In many cases

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Chernyshenko, Olena. "Cost as an Economic Category." Economic journal Odessa polytechnic university 3, no. 29 (2024): 70–79. https://doi.org/10.15276/ej.03.2024.9.

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The article determines that the scientific and theoretical essence of the prime cost as an economic category largely depends on the scope of use of this term, among which economic theory, accounting, financial management and international financial reporting standards are allocated. It is proposed to define the prime cost as the total material, financial and intellectual costs of enterprise for the creation, production and sale of products, expressed in financial (monetary) form, taking into account the socio-institutional costs. A number of production functions of the cost of production have

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Chaldaeva, L. A., and A. A. Kilyachkov. "Economic security of economic entities: Theory and the current practice." Finance and Credit 26, no. 9 (2020): 1970–83. http://dx.doi.org/10.24891/fc.26.9.1970.

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Subject. This article discusses the issues related to the safety of a business entity's activities. Objectives. The article aims to determine the position of the security service of a company in its business processes and the specifics of its implementation in the Russian business environment. Methods. For the study, we used a systems approach and comparison. Results. The article says that in the conditions of steady-increasing complexity of production processes, the security service functionality should be expanded not through an increase in the number of its employees only, but through invol

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Fernald, John G., and Charles I. Jones. "The Future of US Economic Growth." American Economic Review 104, no. 5 (2014): 44–49. http://dx.doi.org/10.1257/aer.104.5.44.

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Modern growth theory suggests that more than three-quarters of growth since 1950 reflects rising educational attainment and research intensity. As these transition dynamics fade, US economic growth is likely to slow at some point. However, the rise of China, India, and other emerging economies may allow another few decades of rapid growth in world researchers. Finally, and more speculatively, the shape of the idea production function introduces a fundamental uncertainty into the future of growth. For example, the possibility that artificial intelligence will allow machines to replace workers t

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Khataab, A. A., and F. I. Rahim. "Economic Analysis of Broiler Production and Marketing in Salah Al-Din Governorate for The Year (2022)." IOP Conference Series: Earth and Environmental Science 1449, no. 1 (2025): 012173. https://doi.org/10.1088/1755-1315/1449/1/012173.

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Abstract In the field of cost analysis, total poultry output (number of birds) was considered the explanatory (independent) variable in the function, While the total costs (in dinars) were considered the dependent variable when estimating the short-run cost function. The standard method was used to determine the model representing the relationship, using three forms of cost functions (linear, quadratic, and cubic), namely, linear, quadratic, and cubic. The cubic function for the total (fourth) The class was the best based on statistical tests. (R2, t, F) and standard (D.W) at a significance le

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Osiobe, Ejiro U. "A Literature Review of Human Capital and Economic Growth." Business and Economic Research 9, no. 4 (2019): 179. http://dx.doi.org/10.5296/ber.v9i4.15624.

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This work aims to examine the relationship between human capital and economic growth. The study analyzes datasets from previous works, reviews previous literature, and draws some conclusions on human capital and economic growth. The paper summarizes articles on human capital in terms of (i) the theoretical framework of economic growth theory, (ii) the neo-classical growth model, (iii) the Solow growth production-function, (iv) the new endogenous theory, and (v) empirical evidence on the relationship and causal link between human capital and economic growth. Assessing the literature on human ca

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Gomez-Lievano, Andres, and Oscar Patterson-Lomba. "Estimating the drivers of urban economic complexity and their connection to economic performance." Royal Society Open Science 8, no. 9 (2021): 210670. http://dx.doi.org/10.1098/rsos.210670.

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Estimating the capabilities, or inputs of production, that drive and constrain the economic development of urban areas has remained a challenging goal. We posit that capabilities are instantiated in the complexity and sophistication of urban activities, the know-how of individual workers, and the city-wide collective know-how. We derive a model that indicates how the value of these three quantities can be inferred from the probability that an individual in a city is employed in a given urban activity. We illustrate how to estimate empirically these variables using data on employment across ind

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Piven, Vladyslav, and Oleksandr Kubatko. "Sustainable Economic Growth Factors in the EU: Applying a Modified Cobb-Douglas Production Function with Renewable Energy and Digitalization." E3S Web of Conferences 456 (2023): 01006. http://dx.doi.org/10.1051/e3sconf/202345601006.

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The paper utilizes the Cobb-Douglas production function with renewable energy and digitalization to estimate the sustainable economic growth factors in the EU. Neoclassical economic theory emphasizes the role of capital and labor as input variables in the output growth models, while novel growth theories are endogenous and emphasize the role of technological advances in economic development. The time frame of the research covers 2011-2021 in order to include the latest available data for all 27 EU member states economies. The research method was fixed-effects GLS regression for the panel data.

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Wang, Zhihu. "A Critical Review on New Structural Economic." Journal of Chinese Economy 1, no. 2 (2022): 27–35. http://dx.doi.org/10.48014/jce.20220604001.

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New structural economics has become one of the most influential economic theories in China today. However, there are still many scholars and students in economics who could not understand the nature of its theoretical and analytical framework and policy recommendations, which make it necessary to describe and evaluate it objectively. This paper investigates the object of study, analytical framework and policy theory of new structural economics, which, in terms of object of study and analytical framework, lies in an intermediary form. in the transition from traditional neoclassical economics to

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Peng, Kang-Lin, Xunyue Xue, Liqiong Yu, and Yixin Ren. "Inferencing Space Travel Pricing from Mathematics of General Relativity Theory, Accounting Equation, and Economic Functions." Mathematics 12, no. 5 (2024): 757. http://dx.doi.org/10.3390/math12050757.

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This study derives space travel pricing by Walrasian Equilibrium, which is logical reasoning from the general relativity theory (GRT), the accounting equation, and economic supply and demand functions. The Cobb–Douglas functions embed the endogenous space factor as new capital to form the space travel firm’s production function, which is also transformed into the consumer’s utility function. Thus, the market equilibrium occurs at the equivalence of supply and demand functions, like the GRT, which presents the equivalence between the spatial geometric tensor and the energy–momentum tensor, expl

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Sukadana, I. Wayan, I. Komang Gde Bendesa, Ni Putu Wiwin Setyari, and I. Gusti Wayan Murjana Yasa. "Water Resources Conservation in Bali: A Non-cooperative Game Theory Approach." Jurnal Ekonomi Pembangunan 21, no. 2 (2024): 125–34. http://dx.doi.org/10.29259/jep.v21i2.20849.

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Entering the 21st century, the world faces a global water crisis threat, due to increasing competition for freshwater which is an implication of economic growth, population growth, and climate change. Therefore, institutions that can secure the availability of water resources sustainably are urgently needed. In contrast to the tendency of research in the last two decades, which was dominated by experimental methods, this research studies local institutions in Bali called Subak using game theory as a reasoning method. Water management was analyzed using three economic frameworks namely, institu

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Dyomina, Olga. "Natural Resources in Economic Development: Evolution of Theoretical Approaches." Spatial Economics 19, no. 3 (2023): 136–59. http://dx.doi.org/10.14530/se.2023.3.136-159.

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This paper considers the evolution of the main theoretical approaches considering the role of natural resources in economic development in the XVIII-XXI centuries. The study revels three main functions of natural resources in the economy: a factor of production, a traded commodity and natural capital as a component of national wealth (along with real and human capital). It is shown that at the present stage globalization processes have determined the dominant function of natural resources as a tradable commodity. It is determined that if until the end of the XX century the presence of rich and

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Zagoruiko, Ivan, and Lesia Petkova. "Model of world technological and economic efficiency frontiers." JOURNAL OF INTERNATIONAL STUDIES 15, no. 2 (2022): 174–98. http://dx.doi.org/10.14254/2071-8330.2022/15-2/12.

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The model generalizes the classical concept of the world's technological frontier. The article is devoted to the theory of comparative analysis of the efficiency of national economies using the non-parametric method of data shell analysis (DEA). The proposed model summarizes the classical concept of the world's technological frontier. Algebraically, it is the solution to the well-known linear programming problem, which determines the countries that use the best combinations of capital and labour to produce a unit of output. Geometrically, it is the envelopment of the states of the studied coun

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ESTOLA, MATTI. "A DYNAMIC THEORY OF A FIRM: AN APPLICATION OF 'ECONOMIC FORCES'." Advances in Complex Systems 04, no. 01 (2001): 163–76. http://dx.doi.org/10.1142/s0219525901000036.

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Static neoclassical theory of a firm and its dynamization by dynamic optimization assume profit functions inconsistent with each other. As a solution to this, we present a dynamic theory of a firm which is consistent with the static neoclassical theory. We define the 'economic forces' which act upon the production of the firm and show that the adjustment of production in a profit-seeking way may be stable or unstable. Explosive unstable production dynamics may occur due to 'economies of scale' or due to the development of wealth or technology; in stable cases the adjustment leads to the profit

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Biddle, Jeff. "Retrospectives: The Introduction of the Cobb–Douglas Regression." Journal of Economic Perspectives 26, no. 2 (2012): 223–36. http://dx.doi.org/10.1257/jep.26.2.223.

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At the 1927 meetings of the American Economic Association, Paul Douglas presented a paper entitled “A Theory of Production,” which he had coauthored with Charles Cobb. The paper proposed the now familiar Cobb–Douglas function as a mathematical representation of the relationship between capital, labor, and output. The paper's innovation, however, was not the function itself, which had originally been proposed by Knut Wicksell, but the use of the function as the basis of a statistical procedure for estimating the relationship between inputs and output. The paper's least squares regression of the

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Schmidt, Torsten. "Forschungs- und Entwicklungsaktivitäten in der Potenzialschätzung berücksichtigen." Wirtschaftsdienst 102, no. 11 (2022): 842–44. http://dx.doi.org/10.1007/s10273-022-3327-9.

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AbstractPotential output is a measure of the longer-term production possibilities of an economy. Since this quantity cannot be observed directly, it must be determined on the basis of assumptions from existing data. The use of a production function was established in the European Commission’s procedure for calculating potential output. However, it is important to capture all drivers of economic growth. In the current EU procedure, total factor productivity (TFP), which is interpreted as a measure of technological progress, is assumed to be exogenous. This means that key drivers of economic gro

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Ang, James B., and Jakob B. Madsen. "WHAT DRIVES IDEAS PRODUCTION ACROSS THE WORLD?" Macroeconomic Dynamics 19, no. 1 (2013): 79–115. http://dx.doi.org/10.1017/s1365100513000229.

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The ideas production function is at the heart of endogenous growth theory. Using data for Europe, its offshoots, and the Asian Tiger economies over the period from 1870 to 2010, this paper provides direct estimates of an ideas production function that explicitly distinguishes between the first- and second-generation endogenous growth models while allowing for human capital and international knowledge spillovers through various channels. The estimates show strong intertemporal and cross-country knowledge spillovers, provide robust support for Schumpeterian growth theory, and suggest that human

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Cookson, Richard. "Welfare Economic Dogmas: A Reply to Sagoff." Environmental Values 5, no. 1 (1996): 59–74. http://dx.doi.org/10.1177/096327199600500106.

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This article examines Sagoff's criticisms of ‘Four Dogmas of Environmental Economics’ ( Environmental Values, Winter 1994) and argues that none of them are fatal. Many of the criticisms appear to rest on general misunderstandings about welfare economics. One misunderstanding is that transaction costs are theoretically indistinguishable from regular production costs. The theoretical distinction is that transaction costs vary under alternative policies and institutions whereas production costs are fixed by tastes, technology and endowments. Another misunderstanding is that market failure concern

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Kharlamova, Ganna, Andriy Stavytskyy, Oleksandr Chernyak, Vincentas Giedraitis, and Olena Komendant. "Economic modeling of the GDP gap in Ukraine and worldwide." Problems and Perspectives in Management 17, no. 2 (2019): 493–509. http://dx.doi.org/10.21511/ppm.17(2).2019.38.

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ActualityThe concept of output gap plays an important role in traditional macroeconomic theory, applied research and monetary policy. GoalThe paper reveals analyses of the potential economic development in Ukraine and in some countries of the world under limited information. Thus, the practical goal is to consider the best modelling approach for the possibility to regulate GDP in Ukraine, as it has been experienced in other countries of the world. MethodThe research is realized with the help of economic-mathematical modelling of GDP gap based on the analysis of the production function, statist

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Jio, Wako, and Chalchissa Amentie Kero. "Systematic Literature Review of Human Capital in Context of Economic Growth." International Journal of Social Science, Management and Economics Research 01, no. 04 (2023): 53–64. http://dx.doi.org/10.61421/ijssmer.2023.1404.

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The purpose of this work is to investigate the connection between economic growth and human capital. The paper examines prior research on the relationship between human capital and economic growth, analyses datasets from other studies, and makes some conclusions. In terms of (i) the new endogenous theory, (ii) the neo-classical growth model, (iii) the Solow growth production-function, (iv) the theoretical framework of economic growth theory, and (v) empirical evidence on the relationship and causal link between human capital and economic growth, the paper summarises articles on human capital.

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Kaplan, Aleksey. "A METHODOLOGICAL BASIS FOR INCREASING THE PRODUCTIVITY OF STAFF AT INDUSTRIAL ENTERPRISES." Bulletin of the South Ural State University series "Economics and Management" 17, no. 4 (2023): 52–61. http://dx.doi.org/10.14529/em230405.

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This paper considers the methodological foundations for increasing productivity by resolving an-tagonism between the owners of labor and capital by forming a balance of interests in the production process. A solution to the practical problem of motivating employees is proposed, taking into account the differentiation of wage levels depending not only on qualifications, competence, and labor costs, but also on the contribution of a particular employee to the final result of the enterprise. Using the theory of production and the theory of wages, a methodological approach to assessing the satisfa

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Jaharuddin, Jaharuddin. "STRATEGIC OPTIMIZATION OF CASH WAQF IN INDONESIA, A PRODUCTION FUNCTION AND GOVERNANCE-BASED APPROACH." Multidisciplinary Research Studies in Social Sciences 1, no. 1 (2025): 30–41. https://doi.org/10.71312/mrscholar.v1i1.337.

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Cash waqf (waqf al-nuqud) has emerged as a dynamic instrument within the broader framework of Islamic social finance, offering a flexible, inclusive, and potentially high-impact mechanism for sustainable development in Muslim-majority societies. Despite its significant potential—particularly in countries like Indonesia, where the annual estimated cash waqf capacity exceeds IDR 180 trillion—its realization remains suboptimal due to limitations in governance, institutional professionalism, and public trust. This study aims to develop a conceptual model for optimizing cash waqf management in Indo

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Wako Jio and Chalchissa Amentie KERO. "Comprehensive Review of the Literature on Human Capital in the Context of Economic Development." RADINKA JOURNAL OF SCIENCE AND SYSTEMATIC LITERATURE REVIEW 1, no. 3 (2023): 166–76. http://dx.doi.org/10.56778/rjslr.v1i3.166.

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This work aims to explore the relationship between human capital and economic growth. The study looks at previous research on the connection between economic growth and human capital, analyses datasets from other studies, and draws some conclusions. The paper summarises articles on human capital with respect to (i) the new endogenous theory, (ii) the neo-classical growth model, (iii) the the economist growth production-function, (iv) the conceptual framework of economic growth theory, and (v) empirical evidence on the relationship and causal connection between human capital and economic growth

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Beattie, Bruce R., Matthew T. Holt, and Myles J. Watts. "On the Function Coefficient, Euler's Theorem, and Homogeneity in Production Theory." Review of Agricultural Economics 24, no. 1 (2002): 240–49. http://dx.doi.org/10.1111/1467-9353.00094.

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Molchanov, N. N., and Yu V. Rybakova. "The Methodology for Developing an Innovation Based on Co-Creation and Co-Production." Economics and Management, no. 7 (September 15, 2019): 64–73. http://dx.doi.org/10.35854/1998-1627-2019-7-64-73.

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Aim. The presented study aims to improve the quality function deployment methodology in innovation development with allowance for the principles of the value co-creation methodology.Tasks. The authors analyze the essence of the value co-creation concept in innovation development, examine the quality function deployment (QFD) methodology as a basic tool for the development of competitive incremental innovations, and propose their own revised methodology that combines the elements of co-creation and co-production on the part of the consumer.Methods. The methodological basis of the study comprise

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