Related papers: The Cobb-Douglas production function revisited

In 1974 Kolmogorov proposed a non-probabilistic approach to statistics and model selection. Let data be finite binary strings and models be finite sets of binary strings. Consider model classes consisting of models of given maximal…

For a dynamical system far from equilibrium, one has to deal with empirical probabilities defined through time-averages, and the main problem is then how to formulate an appropriate statistical thermodynamics. The common answer is that the…

We extend the stochastic production planning framework to manufacturing systems, where the set of admissible production configurations is described by a general smooth convex domain $\omega $. In our setting, production operations continue…

This paper develops a new generation of the Keynesian Intertemporal Synthesis (KIS) Model, a macroeconomic framework designed to reconcile the empirical strengths of the Post-Keynesian (PK) and New Keynesian (NK) traditions. The central…

The conventional functional form of the Constant-Elasticity-of-Substitution (CES) production function is a general production function nesting a number of other forms of production functions. Examples of such functions include Leontief,…

We propose a flexible dual functional factor model for modelling high-dimensional functional time series. In this model, a high-dimensional fully functional factor parametrisation is imposed on the observed functional processes, whereas a…

We critically analyse and comment on the claims of M. R. Pennington and D. J. Wilson [arxiv:0711.3521]. Although we generally agree with their obvious algebra, it is clearly not applicable to our equations. Moreover, we argue that the…

Stochastic production planning problems were studied in several works; the model with one production good was discussed in [3]. The extension to several economic goods is not a trivial issue as one can see from the recent works [4], [5] and…

A robust thermodynamic relation between inflation corrected monetary valuation and energy emerges from existing work. This is based on the energy used, the aggregate efficiency of all production processes ($\Lambda(t)$) in terms of Joules…

We develop a generalized control function approach to production function estimation. Our approach accommodates settings in which productivity evolves jointly with other unobservable factors such as latent demand shocks and the…

The conjecture that the orbit-counting generating function for totally symmetric plane partitions can be written as an explicit product formula, has been stated independently by George Andrews and David Robbins around 1983. We present a…

To describe international trade flows, we propose the coulomb force formulation, in which the magnitude of the charge represents gross domestic product (GDP) and the distance between countries is the bilateral distance, the product of…

Revenue optimization of large data centers is an open and challenging problem. The intricacy of the problem is due to the presence of too many parameters posing as costs or investment. This paper proposes a model to optimize the revenue in…

The classical procedure devised by Irving and Kirkwood in 1950 and completed slightly later by Noll produces counterparts of the basic balance laws of standard continuum mechanics starting from an ordinary Hamiltonian description of the…

In this paper, classical gravity is reformulated in terms of loops, via an algebraic topological approach. The main component is the loop group, whose elements consist of pairs of cobordant loops. A Chas-Sullivan product is described on the…

The do-calculus was developed in 1995 to facilitate the identification of causal effects in non-parametric models. The completeness proofs of [Huang and Valtorta, 2006] and [Shpitser and Pearl, 2006] and the graphical criteria of [Tian and…

The history of computability theory and and the history of analysis are surprisingly intertwined since the beginning of the twentieth century. For one, \'Emil Borel discussed his ideas on computable real number functions in his introduction…

This paper studies the dynamic programming principle for general convex stochastic optimization problems introduced by Rockafellar and Wets in [30]. We extend the applicability of the theory by relaxing compactness and boundedness…

This paper presents a new nested production function that is specifically designed for analyzing capital and labor intensity of manufacturing industries in developing and developed regions. The paper provides a rigorous theoretical…

The product of any finite number of factorial Schur functions can be expanded as a $Z[y]$-linear combination of Schur functions. We give a rule for computing the coefficients in such an expansion which generalizes a specialization of the…