A Theory of Production.¶
Cobb, C. W., & Douglas, P. H. (1928). A Theory of Production. American Economic Review, 18(1), 139-165.
Cited by¶
3 citations across 3 artifacts.
Each citation links to the sentence it supports in the citing article.
Primes¶
- Diminishing Incremental Gains
- Organizations that succeed at complex optimization invest in this diagnostic capability, of which the canonical exemplar remains Cobb and Douglas (1928), who fit a multiplicative power-law production function to U.S. manufacturing data and recovered exponents that constrained subsequent allocation reasoning.
This sourceFirst empirical fit of a multiplicative power-law production function Y = A L^α K^β to U.S. manufacturing data, recovering exponents that constrain input-allocation reasoning.
- Organizations that succeed at complex optimization invest in this diagnostic capability, of which the canonical exemplar remains Cobb and Douglas (1928), who fit a multiplicative power-law production function to U.S. manufacturing data and recovered exponents that constrained subsequent allocation reasoning.
- Diminishing Returns (Law of)
- The Cobb-Douglas function (1928)
This sourceFirst empirical fit of a multiplicative power-law production function Y = A L^α K^β to U.S. manufacturing data, with each factor exhibiting diminishing returns — supports the prime's use of Cobb-Douglas as the tractable diminishing-returns specification.
- The Cobb-Douglas function (1928)
- Factorization
- In economics it is Cobb–Douglas production factoring output into input contributions, and factor models decomposing returns into exposures.
This sourceIntroduces the Cobb–Douglas production function factoring output multiplicatively into capital and labour contributions.
- In economics it is Cobb–Douglas production factoring output into input contributions, and factor models decomposing returns into exposures.
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