APPLIED GEOMETRY IN MICROECONOMICS. RECENT DEVELOPMENTS

Published in Scientific Papers. Series E. Land Reclamation, Earth Observation & Surveying, Environmental Engineering, Vol. II
Written by Adela MIHAI, Andreea OLTEANU

Recently, B.Y. Chen (Chen, 2011, 2012 (1)) studied some geometric properties of h-homogeneous production functions with applications in microeconomics. The class of production functions includes many important production functions in microeconomics; in particular, the well-known generalized Cobb-Douglas production function, widely used in economics to represent the relationship of an output to inputs, and the ACMS production function, also known as the Armington aggregator are production functions. In (Mihai and Sandu, 2012), the authors continued the study of geometry of h-homogeneous production functions by considering the minimality property of the production hypersurface and also the minimality of a production surface corresponding to a quasi-sum production function of 2-variables. In (Chen, 2012 (2)), B. Y. Chen classified h-homogeneous production functions with constant elasticity of substitution. In this paper we make a survey of recent results on production functions obtained by B.Y. Chen, especially from (Chen, 2011), and also recall the results obtained by the first author in (Mihai and Sandu, 2012). In this note, we consider examples of known production functions and verify by concrete calculations some of the previous results. We study production surfaces by considering their constant Gauss curvature. Also, we calculate the mean curvature for some particular production function of two-factors.

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Mihai A., Olteanu A. , 2013, APPLIED GEOMETRY IN MICROECONOMICS. RECENT DEVELOPMENTS. Scientific Papers. Series E. Land Reclamation, Earth Observation & Surveying, Environmental Engineering, Vol. II, PRINT ISSN 2285-6064, 159-166.


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