Abstract
The CES was a natural extension of the Cobb-Douglas in that it permitted the elasticity of substitution to be something other than unity. The next obvious step is to generate a function which allows the elasticity of substitution to change with output and/or factor proportions.
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© 1987 David F. Heathfield and Sören Wibe
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Heathfield, D.F., Wibe, S. (1987). The Translog Function. In: An Introduction to Cost and Production Functions. Palgrave, London. https://doi.org/10.1007/978-1-349-18721-8_6
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DOI: https://doi.org/10.1007/978-1-349-18721-8_6
Publisher Name: Palgrave, London
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