Econometrica Vol. 38 No. 3 1970
A Microeconomic Production Function
Abstract
[Machines produce a constant flow of output when operating, and break down in a random process. The task of workers is to repair the broken machines. Servicing time is also a random process [2]. The limiting steady state probabilities and the relation between output and inputs are derived, and fitted to a Cobb-Douglas production function.]
- DOI
- 10.2307/1909560
- Volume
- 38
- Issue
- 3
- Pages
- 559
- Sources
- bibtex:phds-export.bib openalex crossref