Chilarescu, Constantin and Viasu, Ioana Luciana (2011): A Semigroups Approach to the Study of a Second Order Partial Differential Equation Applied in Economics.
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In this paper we will study the well known problem of production functions in an operator semigroup approach. In general, semigroups can be used to solve a large class of problems commonly known as evolution equations. They are usually described by an initial value problem for a differential equation, also known as a Cauchy problem. After summarizing some of the major properties of semigroups theory, we will provide an application to the theory of production functions. Finally we present some concluding remarks.
|Item Type:||MPRA Paper|
|Original Title:||A Semigroups Approach to the Study of a Second Order Partial Differential Equation Applied in Economics|
|Keywords:||Production functions; Partial differential equations; Semigroups|
|Subjects:||C - Mathematical and Quantitative Methods > C5 - Econometric Modeling > C51 - Model Construction and Estimation
C - Mathematical and Quantitative Methods > C2 - Single Equation Models ; Single Variables > C22 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes
D - Microeconomics > D2 - Production and Organizations > D24 - Production ; Cost ; Capital ; Capital, Total Factor, and Multifactor Productivity ; Capacity
|Depositing User:||Constantin Chilarescu|
|Date Deposited:||06. Oct 2011 12:46|
|Last Modified:||12. Mar 2015 16:05|
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Pazy A., 1983. Semigroups of linear operators and applications to partial differential equations 44, Springer-Verlag.
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