In the economics of joint production one often distinguishes between the two cases: the one in which a firm produces multiple products each produced under separate production process, and the other "true joint production" where a number of outputs are produced from a single production process,...

Arnold Zellner and Nagesh Revankar in their well-known paper "Generalized Production Functions" [The Review of Economic Studies, 36(2), pp. 241-250, 1969] introduced a new generalized production function, which was illustrated by an example of fitting the generalized Cobb-Douglas function to the...

In this paper Sato's two-level CES production function has been estimated by nonlinear regression carried out through five different methods of optimization, namely, the Hooke-Jeeves Pattern Moves (HJPM), the Hooke-Jeeves-Quasi-Newton (HJQN), the Rosenbrock-Quasi-Newton (RQN), the Differential...

This paper gives an outline of evolution of the concept and econometrics of production function, which was one of the central apparatus of neoclassical economics. It shows how the famous Cobb-Douglas production function was indeed invented by von Thünen and Wicksell, how the Constant Elasticity...

This paper gives an outline of evolution of the concept and econometrics of production function, which was one of the central apparatus of neo-classical economics. It shows how the famous Cobb-Douglas production function was indeed invented by von Thunen and Wicksell, how the CES production...

In 1991 India chose to open her economy and formulated the New Economic Policy (NEP). Under the structural adjustment and reform programmes, the NEP aimed at promoting growth by eliminating supply bottlenecks that hinder competitiveness, efficiency and dynamism in the economic system This study...