Related papers: A note on the Cobb-Douglas function
The aim of this work is to establish the personal income distribution from the elementary constituents of a free market; products of a representative good and agents forming the economic network. The economy is treated as a self-organized…
In a legal dispute, parties engage in a series of negotiations so as to arrive at a reasonable settlement. The parties need to present a fair and reasonable bargain in order to induce the WTA, willingness to accept of the plaintiff and the…
The Lebesgue property (order-continuity) of a monotone convex function on a solid vector space of measurable functions is characterized in terms of (1) the weak inf-compactness of the conjugate function on the order-continuous dual space,…
We consider in a market model the cooperative emergence of value due to a positive feedback between perception of needs and demand. Here we consider also a negative feedback from production of the traded products, and find that this…
The purpose of this study is to estimate the production function and examine the structure of production in the mining sector of Iran. Several studies have already been conducted in estimating production functions of various economic…
The inf-sup constant for the divergence, or LBB constant, is explicitly known for only few domains. For other domains, upper and lower estimates are known. If more precise values are required, one can try to compute a numerical…
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 investigates optimal consumption in the stochastic Ramsey problem with the Cobb-Douglas production function. Contrary to prior studies, we allow for general consumption processes, without any a priori boundedness constraint. A…
Can cost-reducing technical change lead to a fall in the long run rate of profit if class struggle manages to keep the rate of exploitation constant? In a general circulating capital model, we derive sufficient conditions for cost-reducing…
Industries learn productivity improvements from their suppliers. The observed empirical importance of these interactions, often omitted by input-output models, mandates larger attention. This article embeds interdependent total factor…
In this paper we propose a new way of proving the value of a firm that is currently producing a certain product and faces the option to exit the market. The problem of optimal exiting is an optimal stopping problem, that can be solved using…
Returning a system to a desired state under a force field involves a thermodynamic cost, i.e., {\it work}. This cost fluctuates for a small-scale system from one experimental realization to another. We introduce a general framework to…
We study various proofs of the caracterization of constant functions, more precisely of the theorem: a derivable function, defined on a real interval, is constant if, and only if, its derivative is null. Our aim is to study the…
A production function $f$ is called quasi-sum if there are strict monotone functions $F, h_1,...,h_n$ with $F'>0$ such that $$f(x)= F(h_1 (x_1)+...+h_n (x_n)).$$ The justification for studying quasi-sum production functions is that these…
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…
This paper proposes a correlated random coefficient linear panel data model, where regressors can be correlated with time-varying and individual-specific random coefficients through both a fixed effect and a time-varying random shock. I…
We propose a disaggregated representation of production through an agent-based fund-flow model (NGR-ADAPT) within which inefficiencies, such as factor idleness and production instability, emerge from endogenous frictions. The model…
The Douglas Rachford algorithm is an algorithm that converges to a minimizer of a sum of two convex functions. The algorithm consists in fixed point iterations involving computations of the proximity operators of the two functions…
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,…
The Douglas-Rachford algorithm can be represented as the fixed point iteration of a firmly nonexpansive operator. When the operator has no fixed points, the algorithm's iterates diverge, but the difference between consecutive iterates…