Journal Article Stochastic Stability of Short-Run Market Equilibrium: A Comment Get access Nagesh S. Revankar Nagesh S. Revankar State University of New York at Buffalo Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 85, Issue 4, November 1971, Pages 724–727, https://doi.org/10.2307/1882279 Published: 01 November 1971

[We introduce and analyze a class of variable elasticity of substitution (VES) production functions for which the substitution parameter varies linearly with the capital-labor ratio around the intercept term of unity. The VES function contains as special cases the more important special cases of the well known CES function. In terms of some familiar economic relationships, the VES posits a linear view of the world in contrast to the log-linear view posited by the CES function.]