AN ADAPTIVE PRODUCTION FUNCTION AND ITS ECONOMIC IMPLICATIONS,
Abstract
This thesis presents an economic production function of the firm which is more compatible than the present theory with the observed phenomenon of firm progress or learning. The function was used in carrying out the typical economic analysis of the fyrm and shown to be helpful in some management science applications. Factors influencing the learning rate or the speed of adptation of the firm to a given production function were investigated with particular attention paid to how the firm can influence these factors. Actual examples are used in this context for illustrative purposes. Finally, this thesis turns its attention to some economic questions involving the relationships among training, adaptation, and the labor supply function. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Apr 01, 1964
- Accession Number
- AD0600966
Entities
People
- Ferdinand Katz Levy
Organizations
- Carnegie Institute of Technology