Contemporary Production Theory, Duality, Elasticities of Substitution, the Translog Production Function and Agricultural Research

The purpose of this publication is explore some of the implications of recent work dealing with duality, elasticities of substitution, and translog specifications of production functions for agricultural research. These theoretical developments have a broad-based applicability to research in production economics and demand analysis for agricultural problems at varying levels of aggregation. The duality principles can be illustrated using simple multiplicative functions of the Cobb-Douglas type.