Cobb-Douglas Production Function: A Comparative Fit Proposal

Authors

  • Edgard Catín Ruiz National Autonomous University of Nicaragua, León
  • Damaris Juárez Zavala National Autonomous University of Nicaragua, León
  • William Carvajal Herradora National Autonomous University of Nicaragua, León

DOI:

https://doi.org/10.5377/universitas.v10i1.14174

Keywords:

Cobb-Douglas, Multipliers, Lagrange, Optimization, Interpolation, Regression, Polynomial, Multivariate

Abstract

Two bivariate adjustment models are compared on real data in the area of economy; one is the production function proposed in 1928, by Charles Cobb and Paul Douglas, and the other is a complete bivariate polynomial of degree two. The goodness of fit of each model is analyzed and determines corresponding optimum subject to restrictions.

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Author Biographies

Edgard Catín Ruiz, National Autonomous University of Nicaragua, León

Faculty of Sciences and Technologies
Department of Mathematics and Statistics

Damaris Juárez Zavala, National Autonomous University of Nicaragua, León

Faculty of Sciences and Technologies
Department of Mathematics and Statistics

William Carvajal Herradora, National Autonomous University of Nicaragua, León

Faculty of Sciences and Technologies
Department of Mathematics and Statistics

References

James Stewart (2001), Calculus Concepts and Contexts, Second Edition.

Dennis G. Zill, Jaqueline M. Dewar, (2012). Algebra, trigonometría y geometría analítica. 3ª. Ed.

https://gallica.bnf.fr/ark:/12148/bpt6k229946s/f97.image (página 77)

https://www.unioviedo.es/oeg/books/IAEP%20(libro).pdf (página 91)

https://www.researchgate.net/publication/273205094_The_Complete_Theory_of_Cobb-Douglas_Production_Function

https://study.com/academy/lesson/the-cobb-douglas-production-function-definition-formula-example.html

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Published

2019-07-01

How to Cite

Catín Ruiz, E., Juárez Zavala, D., & Carvajal Herradora, W. (2019). Cobb-Douglas Production Function: A Comparative Fit Proposal. UNIVERSITAS (LEÓN): SCIENTIFIC JOURNAL OF THE UNAN-LEÓN, 10(1), 30–34. https://doi.org/10.5377/universitas.v10i1.14174

Issue

Vol. 10 No. 1 (2019)

Section

Articles

License

Copyright (c) 2019 National Autonomous University of Nicaragua, León

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

Copyright ©  Universitas (León),  Revista Cientifíca de la UNAN-León. VIP+PS

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