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Function in economics
economics, the Leontief production function or fixed proportions production function is a production function that implies the factors of production which will
Leontief_production_function
Used to define marginal product and to distinguish allocative efficiency
{\displaystyle a_{0}} is the so-called total factor productivity. The Leontief production function applies to situations in which inputs must be used in fixed proportions;
Production_function
Economic formula of productivity
output. Leontief production function Production–possibility frontier Production theory Cobb, C. W.; Douglas, P. H. (1928). "A Theory of Production" (PDF)
Cobb–Douglas production function
Cobb–Douglas_production_function
Y=AK^{\alpha }L^{1-\alpha }} when γ → 0 {\displaystyle \gamma \to 0} Leontief production function (or perfect complements) Y = Min [ K , L ] {\displaystyle \
List_of_production_functions
the GO function reduces to the Generalized Leontief function of Diewert, A well-known flexible functional form for cost and production functions. When
Generalized Ozaki cost function
Generalized_Ozaki_cost_function
Concept in economics
Cobb–Douglas production function; If ρ {\displaystyle \rho } approaches negative infinity we get the Leontief or perfect complements production function. The
Constant elasticity of substitution
Constant_elasticity_of_substitution
German economic research institute and think tank
researchers as Gerhard Colm, Hans Neisser, Jacob Marschak, and Wassily Leontief, all of whom published highly acclaimed research findings. When the Nazi
Kiel Institute for the World Economy
Kiel_Institute_for_the_World_Economy
Quantitative economic model
therefore often subject to delays and sometimes uncertainties. Wassily Leontief (1906–1999) is credited with developing this type of analysis and was awarded
Input–output_model
Russian-American economist (1914–1997)
assumption that the Leontief production function applied, which meant there would be fixed proportions of capital and labor in production, not substitution
Evsey_Domar
Economic model for international trade
factors (including labour) are employed in the production. The Leontief paradox, presented by Wassily Leontief in 1953, found that the U.S. (the most capital-abundant
Heckscher–Ohlin_model
leapfrogging lease Lehman wave lemon market lending Leontief paradox Leontief production function Leontief utilities leprechaun economics Distortion of national
Glossary_of_economics
American economist
foundations led him to the works of John Maynard Keynes, Roy Harrod, Wassily Leontief, Michał Kalecki, Joan Robinson, Piero Sraffa and Luigi Pasinetti, and subsequently
Anwar_Shaikh_(economist)
Price levels at which goods and services must be sold
"Aggregation in Leontief matrices and the labour theory of value". Econometrica 29, 1961, pp.203-20; Peter Flaschel, Marx, Sraffa und Leontief : Kritik und
Prices_of_production
Method to solve optimization problems
Leontief independently delved into the practical applications of linear programming. Kantorovich focused on manufacturing schedules, while Leontief explored
Linear_programming
Method of economic planning
Wassily Leontief. Material balance planning was the principal tool of planning employed by Soviet-type planned economies and was Gosplan's major function in
Material_balance_planning
Class of economic models
74 (3), 1943, 1-51 Leontief, W. (1947) "A Note on the Interrelation of Subsets of Independent Variables of a Continuous Function with Continuous First
Computable general equilibrium
Computable_general_equilibrium
Resource allocation system based on a computational procedure
sectors; the production in one sector relies in the input of goods from another. The flow of goods strictly between sectors is modelled by a Leontief closed
Economic_planning
and Capital Formation statistics were pioneered by the likes of Wassily Leontief, Richard Stone, Simon Kuznets and Colin Clark (the United Nations standard
Value_product
In economics, recurrent or cyclical processes
not assume that society is kept in balance by market mechanisms. Wassily Leontief developed Marx's idea further in his input-output economics (see also input-output
Reproduction_(economics)
1947 book on economic theory by Paul Samuelson
the Second World War." He cites Samuelson on Joseph Schumpeter, Wassily Leontief, Gottfried Haberler, and Alvin Hansen in "teach[ing] him modern economic
Foundations of Economic Analysis
Foundations_of_Economic_Analysis
Concept in economics
An example of the type of utility function that has an indifference map like that above is the Leontief function: U ( x , y ) = min { α x , β y } {\displaystyle
Indifference_curve
Economic dispute
more general models. He thus mostly uses multi-sectoral models of the Leontief–Sraffian tradition instead of the neoclassical aggregate model. Most often
Cambridge_capital_controversy
employment, production and prices" 1982 George J. Stigler Seattle, Washington, U.S. "for his seminal studies of industrial structures, functioning of markets
List of American Nobel laureates
List_of_American_Nobel_laureates
American economist
Harvard University, where he studied under Joseph Schumpeter and Wassily Leontief. Minsky taught at Brown University from 1949 to 1958, and from 1957 to
Hyman_Minsky
Italian economist (1898–1983)
Sraffa's analysis overcomes the limits of the input-output system of Wassily Leontief, in particular with regard to the effects of technical change. Pasinetti's
Piero_Sraffa
American economist and Nobel Laureate (1924–2023)
six weeks. Solow returned to Harvard in 1945 and studied under Wassily Leontief, serving as his research assistant and producing the first set of capital-coefficients
Robert_Solow
Mathematical representation of economic system
nature of the quantities is maintained are used in practice, for example Leontief input–output models are of this kind. However, for the most part, these
Economic_model
Indian economist and Nobel laureate (born 1933)
1999 Honorary Member of the Order of the Companions of Honour, UK, 2000 Leontief Prize, 2000 Eisenhower Medal for Leadership and Service, 2000 351st Commencement
Amartya_Sen
Romanian mathematician, statistician and economist (1906–1994)
with neoclassical production theory as well as the input-output model of the economy, developed by Nobel Prize laureate Wassily Leontief. Georgescu-Roegen
Nicholas_Georgescu-Roegen
with "strict" CES utilities (excluding the linear and Leontief utilities). When linear and Leontief are included, the empirical convergence rate is O(1/T)
Proportional response dynamics
Proportional_response_dynamics
Branch of applied mathematics
practice, Leontief estimated the coefficients of his simple models, to address economically interesting questions. In production economics, "Leontief technologies"
Mathematical_economics
Economic model
Industrial organization Mathematical programming with equilibrium constraints Leontief, Wassily (1936). "Stackelberg on Monopolistic Competition". Journal of
Stackelberg_competition
Organization
Matthiessen; anthropologist Margaret Mead; economists Walt Rostow and Wassily Leontief; writer and literary critic Alfred Kazin among others. The Seminar was
Salzburg_Global_Seminar
American economist and statistician (1912–2006)
from this project later became a part of his Theory of the Consumption Function, a book which first described consumption smoothing and the permanent income
Milton_Friedman
American economist and Nobel Laureate (1915–2009)
Harvard, Samuelson studied economics under Joseph Schumpeter, Wassily Leontief, Gottfried Haberler, and the "American Keynes" Alvin Hansen. Samuelson
Paul_Samuelson
Japanese economist (1923–2001)
(1954). "Note on the General Economic Equilibrium for Nonlinear Production Functions". Econometrica. 22 (1): 49–53. doi:10.2307/1909831. JSTOR 1909831
Hukukane_Nikaido
American private nonprofit research organization
George Stigler, 1982 Theodore Schultz, 1979 Milton Friedman, 1976 Wassily Leontief, 1973 Simon Kuznets, 1971 Cecilia Rouse, 2021–2023 Alan Krueger, 2011–2013
National Bureau of Economic Research
National_Bureau_of_Economic_Research
Set of activities that a firm performs to deliver a valuable product
économique is one of the earliest examples of a value chain. Wassily Leontief's input-output tables, published in the 1950s, provide estimates of the
Value_chain
American sociologist (1902–1979)
Among the participants were D. V. McGranahan, Abram Bergson, Wassily Leontief, Gottfried Haberler, and Paul Sweezy. Schumpeter contributed the essay
Talcott_Parsons
Austrian economist and philosopher (1899–1992)
development of the economics of processes in time and the co-ordination function of prices inspired the ground-breaking work of John Hicks, Abba P. Lerner
Friedrich_Hayek
Systematic endeavour to gain knowledge
Maurice Allais, Theodore Schultz, Richard Stone, James Tobin, Wassily Leontief, Jan Tinbergen. Routledge. ISBN 978-0-415-06164-3. Lightman, Bernard (2011)
Science
Collection of information outside a laboratory, library or workplace setting
Bewley Alan Blinder Trygve Haavelmo John Johnston Lawrence Klein Wassily Leontief Edward J. Nell Robert M. Townsend Alan Lomax John Peel (with his Peel Sessions)
Field_research
Italian economist (1930–2023)
analysis of Wassily Leontief. In chapters 4, 5, and in an Appendix to Chapter 5, Pasinetti respectively deals with the Leontief model, with the Sraffa
Luigi_Pasinetti
Hungarian and American mathematician and physicist (1903–1957)
as did Nobel laureates Tjalling Koopmans, Leonid Kantorovich, Wassily Leontief, Paul Samuelson, Robert Dorfman, Robert Solow, and Leonid Hurwicz. Von
John_von_Neumann
theorem, Arrow–Debreu model, Endogenous growth theory, 1973 Wassily Leontief (1905–1999) Soviet Union United States "for the development of the input-output
List of Nobel Memorial Prize laureates in Economic Sciences
List_of_Nobel_Memorial_Prize_laureates_in_Economic_Sciences
Type of fair division
Essentially-single PEEF allocation: The total endowment is (4,2). Alice and Bob have Leontief utilities, representing complementary goods: u A ( x , y ) = u B ( x ,
Efficient_envy-free_division
Term in Marxist economics
recently, a Marxian input–output approach combining Marx’s value theory with Leontief analysis and World Input–Output Database data has been used to quantify
Unequal_exchange
Pricing problem in Marxism
Bortkiewicz (1906). In the second half of the 20th century, Leontief’s and Sraffa’s work on linear production models provided a framework within which to argue
Transformation_problem
American economist (born 1953)
Krugman modeled a 'preference for diversity' by assuming a CES utility function like that in a 1977 paper by Avinash Dixit and Joseph Stiglitz. Many models
Paul_Krugman
American economist (born 1940)
and all factors of production in the economy vi) non-satiation in at least one good vii) individualistic social welfare function. Under these assumptions
Peter_Diamond
Study of the development of economic thought
Prize in Economics in 1969. In 1936 Russian-American economist Wassily Leontief (1905–1999) proposed the Input-Output Model of economics, which uses linear
History_of_economic_thought
Mathematical principle
and 1 unit of CPU. Thus, the utility functions (=number of tasks), denoting RAM by r and CPU by c, are Leontief utilities: u A ( r , c ) = min ( r , c
Resource_monotonicity
Russian economist
Yegor Gaidar Award for Outstanding Contribution to the Economics; Wassily Leontief Medal for 'Achievements in the Economics' (2015); All-Russian 'Reputation'
Alexander_Auzan
Canadian-American economist and diplomat (1908–2006)
Zedong's communist government, together with fellow economists Wassily Leontief and James Tobin. In 1973, Galbraith published an account of his experiences
John_Kenneth_Galbraith
American economist (1930–2014)
and Kelvin Lancaster developed the economic concept of a household production function. Both assumed that consumers in a household receive utility from
Gary_Becker
Capital of Bavaria, Germany
the development of buildings and green spaces as well as plans for functioning ventilation in a cityscape can be monitored and managed. From only 24
Munich
American economist (1921–2017)
the International Comparisons of Factor Efficiency with the CES Production Function: A Reply". The Review of Economic Studies', 477–479.s. 50 (4 (Nov
Kenneth_Arrow
Turkish-American economist (born 1967)
as the biggest problem for the US. He argues that "democracy ceases to function because some people have so much money they command greater power." He
Daron_Acemoglu
manufacturing corridor developed in the Northeast, including textile production in New England and iron industries in Pennsylvania and Ohio, which often
Foreign trade of the United States
Foreign_trade_of_the_United_States
American economist (1867–1947)
contained "the first careful examination of the measurability of the utility function and its relevance to demand theory." While his published work exhibited
Irving_Fisher
American economist
between the different classes and sectors of society. Although Wassily Leontief was best known for his 'Input Output Mode', a major contribution to economic
Edward_J._Nell
Japanese economist (1928–2014)
Economic Studies Quarterly. 12 (2): 52–60. Uzawa, Hirofumi (1962). "Production Functions with Constant Elasticities of Substitution". Review of Economic Studies
Hirofumi_Uzawa
Other types of trade barriers
subsidies and quotas, NTBs are most similar to the tariffs. Tariffs for goods production were reduced during the eight rounds of negotiations in the WTO and the
Non-tariff_barriers_to_trade
American economist and Nobel Laureate (born 1943)
"the strictures imposed by TTIP would be sufficiently averse to the functioning of government that it would make me think over again about whether membership
Joseph_Stiglitz
But when both m and n are variable, finding a CE is PPAD-hard even for Leontief utilities, which are a special case of PLC utilities (when n is constant
Arrow–Debreu_exchange_market
American academic and Nobel Laureate (1916–2001)
behavior, in economics, means that individuals maximize their utility function under the constraints they face (e.g., their budget constraint, limited
Herbert_A._Simon
First American verse play written for radio
Indiana University Press. pp. 47–50. ISBN 0-253-34310-0. Alpers, Benjamin Leontief (January 2003). Dictators, democracy, and American public culture:envisioning
The_Fall_of_the_City
American economist and Nobel laureate (1920–2015)
transaction costs by creating stability and predictability, allowing markets to function more efficiently. He also emphasized that institutions are not always efficient
Douglass_North
American economist and statistician (1901–1985)
concept of gross domestic product, which seeks to capture all economic production in a state by a single measure. Simon Kuznets was born on April 30, 1901
Simon_Kuznets
American economist and Nobel Laureate (1918–2002)
Harvard, receiving his Ph.D. in 1947 with a thesis on the consumption function written under the supervision of Joseph Schumpeter. In 1947 Tobin was elected
James_Tobin
Phenomenon of international trade relations
domestic prices of the good when: All markets are competitive Domestic production is monopolized Either importing or exporting is monopolized and some exporters
Voluntary_export_restraint
American economist and Nobel Laureate (1911–1991)
(1939). "Production and Distribution in the Long Run," Journal of Political Economy, 47(3), pp. 305–327 (arrow-scrollable). ([1941] 1994). Production and Distribution
George_Stigler
Absence of government restriction on international trade
regulations, or laws that give some firms, households, or factors of production an advantage over others are often considered to be "trade-distorting"
Free_trade
American political economist (1933–2012)
influencing the production of public goods and services. Among her better known works in this area is her study on the polycentricity of police functions in Indianapolis
Elinor_Ostrom
Jewish American econometrician
fundamental studies of economic growth, productivity, production function, consumption function, measurements of economic input and output, hedonic prices
Zvi_Griliches
Policies intended to encourage trade between nations
safeguarding legitimate regulatory objectives. Business costs may be a direct function of collecting information and submitting declarations or an indirect consequence
Trade_facilitation
American economist (1933–2024)
of subjects, including supply and demand, time series analysis, production functions, panel analysis, and family demography. A widely known contribution
Marc_Nerlove
Change, Economic Development, and Global Equity: Presented at the 2007 Leontief Prize Ceremony Tufts University Global Development and Environment Institute
Economic analysis of climate change
Economic_analysis_of_climate_change
Italian-American economist and Nobel Laureate (1918–2003)
Fascist Italy was an article about the organization and management of production in a socialist economy, written in Italian and arguing the case for socialism
Franco_Modigliani
American economist
Realizations", American Economic Review, 1962 "A Distributed Lag Investment Function", Econometrica, 1960 "On Growth Models and the Neo-Classical Resurgence"
Robert_Eisner
oil crisis's impact. Prepared with input from foreign experts Wassily Leontief and Sir Andrew Shonfield, the Eighth Plan employed the DMS macroeconomic
Economic_planning_in_France
conduction to Richard Axel's dissection of the pathways relevant to olfactory function." "The Nobel Prize in Physiology or Medicine 1944". nobelprize.org. Nobel
List of Jewish Nobel laureates
List_of_Jewish_Nobel_laureates
for Chemistry), economists Simon Kuznets (1971 Nobel Prize) and Wassily Leontief (1973 Nobel Prize), physicist Georgiy Gamov (an author of the Big Bang
Science and technology in Russia
Science_and_technology_in_Russia
the Soviet Kosygin reform in economy Wassily Leontief, developed input-output analysis and the Leontief paradox, Nobel Prize in Economics winner Vasily
List_of_Russian_people
Intellectual movement in 18th–19th century Scotland
Maurice Allais, Theodore Schultz, Richard Stone, James Tobin, Wassily Leontief, Jan Tinbergen. Routledge. ISBN 978-0-415-06164-3. Deardorff, Alan V.,
Scottish_Enlightenment
International standard system
consumption Inventory Kendrick, John Whitefield Keynes, John Maynard Labor share Leontief, Wassily Leprechaun economics List of countries by GNI per capita growth
System_of_National_Accounts
American economist (1933–2022)
pioneering work on flexible functional forms—most notably the translog production function—allowed for the approximation of complex, non-linear economic behaviors
Dale_W._Jorgenson
British economist and Nobel laureate (1910–2013)
internally, however. Coase notices "decreasing returns to the entrepreneur function", including increasing overhead costs and increasing propensity for an
Ronald_Coase
American economist and Nobel Laureate (1919–2013)
the, "case for universal education is self-evident: a democracy cannot function without an informed and educated citizenry. . . . If education is to be
James_M._Buchanan
American economist (born 1948)
across production inputs, without making assumptions on scale economies or divisibility (through a concavity condition on the production function). Monotonic
Paul_Milgrom
Market-based approach used to control pollution
Trading results in the incorporation of economic costs into the costs of production which incentivizes corporations to consider investment returns and capital
Emissions_trading
American economist and Nobel laureate (born 1964)
Pekkarinen, Tuomas (September 2002). "Complexity, wages, and the O-ring production function: evidence from Finnish panel data". Labour Economics. 9 (4): 531–546
Michael_Kremer
(initiated by Alexei Kosygin) in economy Wassily Leontief, developed input-output analysis and the Leontief paradox, Nobel Prize in Economics winner Vasily
List_of_Russian_scientists
American politician and economist (1892–1976)
1928 article with Charles Cobb that first laid out the Cobb-Douglas production function. As the 1920s drew to a close, Douglas got more involved in politics
Paul Douglas (Illinois politician)
Paul_Douglas_(Illinois_politician)
abolitionist; promoter, the Underground Railroad Juliet Schor – 2005 Leontief Prize (Wassily Leontief) by the Global Development and Environment Institute Ted Smith
List of Wesleyan University people
List_of_Wesleyan_University_people
University in Brighton and Hove, England
Richardson (Neuroscience). Additionally, two of its faculty have received the Leontief Prize: Michael Lipton and Mariana Mazzucato. In the Humanities and Social
University_of_Sussex
Canadian academic (1894–1952)
conjunction with McLuhan, offered groundbreaking Canadian perspectives on the function of communication technologies as key agents in social and historical change
Harold_Innis
University in Germany
includes issues relating to food safety and quality assurance in food production. In this context, the QUASI research network was established in the early
Kiel_University
American feminist economist
a five- year fellowship with the MacArthur Foundation in 1998, and the Leontief Prize of the Global Development and Environment Institute at Tufts University
Nancy_Folbre
American mathematician (1910–1985)
; Debreu, Gérard (December 1982). "Additively decomposed quasiconvex functions" (PDF). Mathematical Programming. 24 (1). Springer: 1–38. doi:10.1007/BF01585092
Tjalling_Koopmans
travel, tourism, insurance
LEONTIEF PRODUCTION-FUNCTION
LEONTIEF PRODUCTION-FUNCTION
LEONTIEF PRODUCTION-FUNCTION
LEONTIEF PRODUCTION-FUNCTION
LEONTIEF PRODUCTION-FUNCTION
LEONTIEF PRODUCTION-FUNCTION
LEONTIEF PRODUCTION-FUNCTION
LEONTIEF PRODUCTION-FUNCTION
LEONTIEF PRODUCTION-FUNCTION
travel, tourism, insurance