Dimensional Analysis of Production and Utility Functions in Economics

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.

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Year of publication:	2015-01-06
Authors:	Kim, Minseong
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	dimensional analysis \| production function \| utility function \| consistency in economics

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	B41 - Economic Methodology ; C00 - Mathematical and Quantitative Methods. General ; C02 - Mathematical Methods ; E10 - General Aggregative Models. General ; E13 - Neoclassical
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011107885