A note on the Cobb-Douglas function
General Economics
2024-11-14 v1 Economics
Abstract
This note observes that the Cobb-Douglas function is uniquely characterized by the property that, if the labour share of cost for a constant-returns-to-scale firm remains constant when the firm minimizes its cost for any given output level, then the firm's production function must be Cobb-Douglas.
Cite
@article{arxiv.2411.08067,
title = {A note on the Cobb-Douglas function},
author = {Richard Vale},
journal= {arXiv preprint arXiv:2411.08067},
year = {2024}
}
Comments
2 pages