cobb_douglas_2 {Recon} | R Documentation |
This function allows you to compute a Cobb-Douglas production/ utility function with two inputs/goods.
cobb_douglas_2(x, TFP = 1, alpha = 0.5, beta = 1 - alpha)
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. |
Returns a list object with compued y and elasticities.
Pedro Cavalcante Oliveira, Department of Economics, Fluminense Federal University
x <- c(3, 4, 5)
y <- c(1, 4, 2)
data <- data.frame(x = x, y = y)
cobb_douglas_2(data)