A Note on Estimation of Cobb-Douglas and CES Production Function Models
关于 Cobb-Douglas 与 CES 生产函数模型估计的札记
ZELLNER, KMENTA, AND DRfEZE in a recent article [3] specified for the firm a Cobb-Douglas production model in which the traditional profit maximization assumption was modified to explicitly recognize the stochastic nature of profits. Assuming that firms maximize the mathematical expectation of profits, the authors found that under conditions of pure competition least squares estimation of the production function from cross section data on firms' output and inputs provides…