On Scaling Laws for Production Functions,
Abstract
In economic theory of production, positively homogeneous production functions (scalar valued) have played a strong rule for determining changes in output resulting from proportional changes in inputs. But, since production functions of this form describe a very limited structure, search for new types has continued. The purpose of the paper is to develop, within an axiomatic framework for production, new laws (rules) for scaling output under proportional changes of input vectors and to generalize some existing ones. The types of scaling laws to be considered are: (a) the size of output, (b) the size of output and input mix, and (c) the size and mix of input scaling laws. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Oct 01, 1972
- Accession Number
- AD0752793
Entities
People
- Rolf Fare
Organizations
- University of California, Berkeley