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Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics, Vol 25, No 2 (1983), Pagination: 115-148
Abstract
Over the last fifty years an extensive amount of literature has developed centering around the theory of production. Earlier research work in this area concentrated largely on a few specific functional forms for the production relationship, the two most popular being the Cobb-Douglas and CES models (Cobb-Douglas (1928) and Arrow and others (1961). The CES form has shown considerable flexibility in modelling the technology for a firm producing a single output using two inputs.