Jeff E. Biddle, Progress Through Regression: The Life Story of the Empirical Cobb-Douglas Production Function

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15 novembre 2021

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Œconomia

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OpenEdition

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https://creativecommons.org/licenses/by-nc-nd/4.0/ , info:eu-repo/semantics/openAccess



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Jonathan Temple, « Jeff E. Biddle, Progress Through Regression: The Life Story of the Empirical Cobb-Douglas Production Function », Œconomia, ID : 10.4000/oeconomia.11428


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Many economists invoke the term “Cobb-Douglas” frequently, while knowing little of its history. In 1927, Paul H. Douglas presented his results on an estimated production function in a paper at the American Economic Association annual meeting. This was joint work with the mathematician Charles W. Cobb. What became known as the Cobb-Douglas production function was not new—Knut Wicksell had previously suggested it—but its estimation using time-series data marked the beginning of a new literature...

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