Inada conditions imply that production function must be asymptotically Cobb-Douglas

Paulo Barelli and Samuel de Abreu Pessôa

No 477, FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) from EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil)

Abstract: We show that every twice-continuously differentiable and strictly concave function f : R+ → R+ can be bracketed between two C.E.S. functions at each open interval. In particular, for the Inada conditions to hold, a production function must be asymptotically Cobb-Douglas.

Date: 2003-03-25
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