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Constantin Chilarescu
''A production function with variable elasticity of substitution greater than one''
( 2021, Vol. 41 No.3 )
The idea of this paper comes from the famous remark of Piketty and Zuckman: "It is natural to imagine that the elasticity of substitution was much less than one in the eighteenth and nineteenth centuries and became larger than one in the twentieth and twenty-first centuries. One expects a higher elasticity of substitution in high-tech economies where there are lots of alternative uses and forms for capital." The main aim of this paper is to prove the existence of a production function of variable elasticity of substitution with values greater than one.
Keywords: variable elasticity of substitution; production function.
JEL: C6 - Mathematical Methods and Programming: General
D2 - Production and Organizations: General
Manuscript Received : Mar 01 2021 Manuscript Accepted : Sep 17 2021

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