cobb_douglas_2: 2 inputs Cobb-Douglas Model

In Recon: Computational Tools for Economics

Description

This function allows you to compute a Cobb-Douglas production/ utility function with two inputs/goods.

Usage

cobb_douglas_2(x, TFP = 1, alpha = 0.5, beta = 1 - alpha)

Arguments

x	is a data frame with two columns.
TFP	is the constant of the model. Defaults to 1.
alpha	is the first input's elasticity. Defaults to a random number between 0 and 1, rounded to two digits.
beta	is the second input's elasticity. Defaults to 1 - alpha.

Value

Returns a list object with compued y and elasticities.

Author(s)

Pedro Cavalcante Oliveira, Department of Economics, Fluminense Federal University

Examples

x <- c(3, 4, 5)
y <- c(1, 4, 2)

data <- data.frame(x = x, y = y)

cobb_douglas_2(data)

Recon documentation built on July 30, 2019, 9:03 a.m.