For the production functions in the previous question calculate the marginal product of x 1 (or MP K for part b) and the technical rate of substitution. Graph one or two isoquants for each production ...

Recent reviews of scientific work on subjective well-being (SWB) reveal disagreements in conceptualization, measurement, and explanation of the concept. We propose Social Production Function theory as ...

We add to the methods for conditioning out serially correlated unobserved shocks to the production technology. We build on ideas first developed in Olley and Pakes (1996). They show how to use ...

In my last post on my Debtwatch blog, I finished by saying that the Physiocrats were the only School of economics to properly consider the role of energy in production. They ascribed it solely to ...