How to explain ubiquity of constant elasticity of substitution (CES) production and utility functions without explicitly postulating CES

• Main Authors: Kosheleva O., Kreinovich V., Dumrongpokaphan T.
• Format: Book Series
• Published: 2017
• Online Access: https://www.scopus.com/inward/record.uri?partnerID=HzOxMe3b&scp=85012893742&origin=inward; http://cmuir.cmu.ac.th/jspui/handle/6653943832/40784
• Institution: Chiang Mai University

© Springer International Publishing AG 2017. In many situations, the dependence of the production or utility on the corresponding factors is described by the CES (Constant Elasticity of Substitution) functions. These functions are usually explained by postulating two requirements: an economically re...