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Journal ArticleDOI

Capital-labor substitution and economic efficiency

TL;DR: In this article, the authors proposed a method to improve the quality of the service provided by the service provider by using the information of the user's interaction with the provider and the provider.
Abstract: Обсуждаются следующие темы: чистая теория производства, функциональное распределение дохода, технический прогресс, источники международных конкурентных преимуществ. Анализируются эластичность замещения между трудом и капиталом в обрабатывающей промышленности; производственные функции различного типа.
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Posted Content
TL;DR: In this article, the Variable Output Elasticities Cobb-Douglas Function (VOFLF) was proposed to approximate a large class of production functions with non-constant output elasticity.
Abstract: By defining the Variable Output Elasticities Cobb-Douglas function, this article shows that a large class of production functions can be approximated by a Cobb-Douglas function with nonconstant output elasticity. Compared to standard flexible functions such as the Translog function, this framework has several advantages. It requires only the use of the first order approximation while respecting the theoretical curvature conditions of the isoquants. This greatly facilitates the deduction of linear input demands function without the need of involving the duality theorem. Moreover, it allows for a generalization of the CES function to the case where the elasticity of substitution between each pair of inputs is not necessarily the same.

6 citations


Cites methods from "Capital-labor substitution and econ..."

  • ...Arrow et al. (1961) introduced the Constant Elasticity of Substitution (CES) production function which has the advantage to be a generalization of the three main functions that were used previously: the linear function (for perfect substitutes), the Leontief function (for perfect complements) and the CD function, which assume respectively an infinite, a zero and a unit elasticity of substitution (ES) between production factors. A limitation of the CES function is known as the impossibility theorem of Uzawa (1962) McFadden (1963) according to which the generalization of the class of function proposed by Arrow et al....

    [...]

  • ...A limitation of the CES function is known as the impossibility theorem of Uzawa (1962) - McFadden (1963) according to which the generalization of the class of function proposed by Arrow et al. (1961) to more than two factors imposes a common ES between factors....

    [...]

  • ...Arrow et al. (1961) introduced the Constant Elasticity of Substitution (CES) production function which has the advantage to be a generalization of the three main functions that were used previously: the linear function (for perfect substitutes), the Leontief function (for perfect complements) and the CD function, which assume respectively an infinite, a zero and a unit elasticity of substitution (ES) between production factors. A limitation of the CES function is known as the impossibility theorem of Uzawa (1962) McFadden (1963) according to which the generalization of the class of function proposed by Arrow et al. (1961) to more than two factors imposes a common ES between factors....

    [...]

  • ...Arrow et al. (1961) introduced the Constant Elasticity of Substitution (CES) production function which has the advantage to be a generalization of the three main functions that were used previously: the linear function (for perfect substitutes), the Leontief function (for perfect complements) and…...

    [...]

  • ...Arrow et al. (1961) introduced the Constant Elasticity of Substitution (CES) production function which has the advantage to be a generalization of the three main functions that were used previously: the linear function (for perfect substitutes), the Leontief function (for perfect complements) and the CD function, which assume respectively an infinite, a zero and a unit elasticity of substitution (ES) between production factors. A limitation of the CES function is known as the impossibility theorem of Uzawa (1962) McFadden (1963) according to which the generalization of the class of function proposed by Arrow et al. (1961) to more than two factors imposes a common ES between factors. To allow for different degrees of substitutability between inputs, Sato (1967) proposed the approach of nested CES functions which has proved very successful in general equilibrium modeling and econometric studies because of its algebraic tractability....

    [...]

Journal ArticleDOI
01 May 1982-Energy
TL;DR: In this article, a simple model has been developed to forecast energy demand as a function of real energy price, and the model can sucessfully backcast the post-embargo period.

6 citations

Journal ArticleDOI
TL;DR: In this paper, an attempt has been made to estimate the parameters of Gielis' superformula from empirical data using an optimum search algorithm on multi-modal surfaces -the Genetic Algorithm- to find the best fit.
Abstract: Johan Gielis showed that all closed curves might be considered as some sort of deformed ellipses. He gave a superformula to parameterize such shapes. In this study an attempt has been made to estimate the parameters of Gielis' superformula from empirical data. We use an optimum search algorithm on multi-modal surfaces - the Genetic Algorithm- to find the best fit. Randomly scattered starting points have been used for the search of an optimum solution. Some examples are based on simulated data, while the solution of a real problem also may be attempted. It has also been shown that the parameters of the superformula are not uniquely related to the data from which they are estimated. This lack of uniqueness may pose the problems of interpretation of parameters.

6 citations


Cites background from "Capital-labor substitution and econ..."

  • ...Arrow et al. (1961), later on generalized for multi-level multi-factor case (Sato, 1970), visualized the technical relationship between production (Q) and the factors (Labour, L and capital, K) in the following form (well known as the CES production function): /...

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Posted Content
TL;DR: The results show that the economic actions of stakeholders during boom periods greatly affect the sustainability of CSR activities during slow periods, and a new model installed bounded rational and simulated is developed.
Abstract: An agent-based model of firms and their stakeholders' economic actions was used to test the theoretical feasibility of sustainable corporate social responsibility activities. Corporate social responsibility has become important to many firms, but CSR activities tend to get less attention during busts than during boom times. The hypothesis tested is that the CSR activities of a firm are more economically rational if the economic actions of its stakeholders reflect the firm's level of CSR. Our model focuses on three types of stakeholders: workers, consumers, and shareholders. First, we construct a uniform framework based on a microeconomic foundation that includes these stakeholders and the corresponding firms. Then, we formulate parameters for CSR in this framework. Our aim is to identify the conditions under which every type of stakeholder derives benefits from a firm's CSR activities. We simulated our model with heterogeneous agents by computer using several scenarios. For each one, the simulation was run 100 times with different random seeds. We first simulated the homogeneous version discussed above to verify the concept of our model. Next, we simulated the case in which workers had heterogeneous abilities, the firms had cost for CSR activities, and the workers, consumers, and shareholders had zero CSR awareness. We tested the robustness of our simulation results by using sensitivity analysis. Specifically, we investigated the conditions for the pecuniary advantage of CSR activities and effects offsetting benefits of CSR activities. Finally, we developed a new model installed bounded rational and simulated. The results show that the economic actions of stakeholders during boom periods greatly affect the sustainability of CSR activities during slow periods. This insight should lead to a feasible and effective prescription for sustainable CSR activities.

6 citations

References
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Journal ArticleDOI
TL;DR: In this article, the authors proposed a method to improve the performance of the system by using the information of the user's interaction with the system and the system itself, including the interaction between the two parties.
Abstract: В статье производится анализ агрегированной производственной функции, вводится аппарат, позволяющий различать движение вдоль такой функции от ее сдвигов. На основании сделанных в статье предположений делаются выводы о характере технического прогресса и технологических изменений. Существенное внимание уделяется вариантам применения концепции агрегированной производственной функции.

10,850 citations

Journal ArticleDOI

3,961 citations

Book
01 Jan 1956
TL;DR: In this paper, a very brief treatment of three questions relating to the history of our economic growth since the Civil War is given, namely: (1) How large has been the net increase of aggregate output per capita, and to what extent has this increase been obtained as a result of greater labor or capital input on the one hand and of a rise in productivity on the other? (2) Is there evidence of retardation, or conceivably acceleration, in the growth of per capita output? (3) Have there been fluctuations in the rate of growth of output, apart
Abstract: Introduction This paper is a very brief treatment of three questions relating to the history of our economic growth since the Civil War: (1) How large has been the net increase of aggregate output per capita, and to what extent has this increase been obtained as a result of greater labor or capital input on the one hand and of a rise in productivity on the other? (2) Is there evidence of retardation, or conceivably acceleration, in the growth of per capita output? (3) Have there been fluctuations in the rate of growth of output, apart from the shortterm fluctuations of business cycles, and, if so, what is the significance of these swings? The answers to these three questions, to the extent that they can be given, represent, of course, only a tiny fraction of the historical experience relevant to the problems of growth. Even so, anyone acquainted with their complexity will realize that no one of them, much less all three, can be treated satisfactorily in a short space. I shall have to pronounce upon them somewhat arbitrarily. My ability to deal with them at all is a reflection of one of the more important, though one of the less obvious, of the many aspects of our growing wealth, namely, the accumulation of historical statistics in this country during the last generation. For the most part, the figures which I present or which underlie my qualitative statements are taken directly from tables of estimates of national product, labor force, productivity, and the like compiled by others.

1,031 citations

Book
01 Jan 1938

926 citations