Munich Personal RePEc Archive

Dimensional Analysis of Production and Utility Functions in Economics

Kim, Minseong (2015): Dimensional Analysis of Production and Utility Functions in Economics.

[img]
Preview
PDF
MPRA_paper_61147.pdf

Download (167kB) | Preview

Abstract

This paper explores dimensional analysis of production and utility functions in economics. As raised by Barnett, dimensional analysis is important in consistency checks of economics functions. However, unlike Barnett's dismissal of CES and Cobb-Douglas production functions, we will demonstrate that under constant return-to-scale and other assumptions, production function can indeed be justified dimensionally. And then we consider utility functions.

UB_LMU-Logo
MPRA is a RePEc service hosted by
the Munich University Library in Germany.