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Dimensional Analysis of Production and Utility Functions in Economics

Minseong Kim

MPRA Paper from University Library of Munich, Germany

Abstract: This paper explores dimensional analysis of production and utility functions in economics. As raised by Barnett, dimensional analysis is important in consistency checks of economics functions. However, unlike Barnett's dismissal of CES and Cobb-Douglas production functions, we will demonstrate that under constant return-to-scale and other assumptions, production function can indeed be justified dimensionally. And then we consider utility functions.

Keywords: dimensional analysis; production function; utility function; consistency in economics (search for similar items in EconPapers)
JEL-codes: B41 C00 C02 E10 E13 (search for similar items in EconPapers)
Date: 2015-01-06
New Economics Papers: this item is included in nep-mac and nep-upt
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