Allen or Morishima Elasticities: Some Empirical Evidence from Indian Manufacturing Sector
- 1 March 1995
- journal article
- Published by Gokhale Institute of Politics and Economics in Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics
- Vol. 37 (1) , 66
- https://doi.org/10.21648/arthavij/1995/v37/i1/116001
Abstract
Degree of substitutability between inputs is measured by the elasticity of substitution, one of the most fundamental measures in the theory of production. For multi-input production technology AES estimates has dominated the Applied Production Theory for quite a long and very crucial period of time. However, in the early eighties AES had been questioned on theoretical grounds and In lieu MES was suggested as an appropriate measure.Keywords
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