Tinbergen-Solow Production Function

This is a visualization of the Tinbergen–Solow equation. It is a modified version of the Cobb–Douglas production function, with an additional residual term . This function incorporates technological change, which is not reflected in the Cobb–Douglas production function. At a fixed time economic output is still a function of labor and capital , but now as technological progress grows at rate , the attainable economic outputs increase.



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Reference: T. Humphrey, "Algebraic Production Functions and Their Uses Before Cobb–Douglas," Economic Quarterly, 83(1), 1997 pp. 51–83.
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