An Analysis for Cobb-Douglas Production Function, the Capability Proxies, Net Society Value and Technology Indicator

Lu Yan
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Lu Yan: Institute for the History of Science and Technology, Iner Mongolia Normal University

Bulletin of Business and Economics (BBE), 2015, vol. 4, issue 2, 105-126

Abstract: This paper establishes an estimate system and forms the capability proxy, the technology capability proxy and the total net society value, etc. and demonstrates the progress of technology can make the capability increase and finds that the technology capability is mainly decided by the ability of the scientists and engineers. The paper completely analyzes the Cobb-Douglas production function and first make out how does it be formed theoretically, what is the , , why equals one and demonstrate that in the profit-maximizing condition the excess profit is not necessarily to be zero and there is a bias when we apply of the Cobb-Douglas production function to measure both the capability and the technology.

Keywords: production function; technology; society; profit maximization (search for similar items in EconPapers)
JEL-codes: O10 O30 O40 (search for similar items in EconPapers)
Date: 2015
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