Fare, Rolf; Primont, Daniel - In: International Journal of Business and Economics 1 (2002) 1, pp. 1-8
Inada (1963) provided properties of the production function that are useful in the study of economic growth. Shephard (1970a) provided an axiomatic approach to the study of production theory. He applied these axioms to give a formal statement of the law of diminishing returns [(Shephard,...