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What is Elastic I Ties about?

This document discusses different concepts of elasticity of substitution, which measures the degree of substitutability between inputs in production. It covers the original Hicksian concept for two inputs, generalizations to more than two inputs including Allen and Morishima elasticities, and relationships between elasticity values and factor income shares under different functional representations of technologies.

Author

Pankaj Kumar Swain

Language

EN