Geodesic
On some geometric properties of $h$-homogeneous production functions in microeconomics
Kragujevac Journal of Mathematics, Tome 35 (2011) no. 3, p. 343 Cet article a éte moissonné depuis la source eLibrary of Mathematical Institute of the Serbian Academy of Sciences and Arts

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Almost all economic theories presuppose a production function, either on the firm level or the aggregate level. In this sense the production function is one of the key concepts of mainstream neoclassical theories. There is a very important class of production functions that are often analyzed in microeconomics; namely, $h$-homogeneous production functions. This class of production functions includes many important production functions in microeconomics; in particular, the well-known generalized Cobb-Douglas production function and the ACMS production function. In this paper we study geometric properties of $h$-homogeneous production functions via production hypersurfaces. As consequences, we obtain some characterizations for an $h$-homogeneous production function to have constant return to scale or to be a perfect substitute. Some applications to generalized Cobb-Douglas and ACMS production functions are also given.
Classification : 91B38 91B64 53B25
Keywords: Production function, $h$-homogeneous production function, Gauss-Kronecker curvature, constant return to scale, perfect substitutes, ACMS production function, generalized Cobb-Douglas production function. 
@article{KJM_2011_35_3_a0,
     author = {Bang-Yen Chen},
     title = {On some geometric properties of $h$-homogeneous production functions in microeconomics},
     journal = {Kragujevac Journal of Mathematics},
     pages = {343 },
     year = {2011},
     volume = {35},
     number = {3},
     language = {en},
     url = {http://geodesic.mathdoc.fr/item/KJM_2011_35_3_a0/}
}
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Bang-Yen Chen. On some geometric properties of $h$-homogeneous production functions in microeconomics. Kragujevac Journal of Mathematics, Tome 35 (2011) no. 3, p. 343 . http://geodesic.mathdoc.fr/item/KJM_2011_35_3_a0/