GE (version 0.2.5)

CES: CES Function

Description

CES function, e.g. alpha * (beta1 * (x1 / theta1)^sigma + beta2 * (x2 / theta2)^sigma)^(1 / sigma).

Usage

CES(sigma = 1 - 1/es, alpha, beta, x, theta = NULL, es = NA)

Arguments

sigma

the sigma coefficient.

alpha

the alpha coefficient.

beta

a vector consisting of the beta coefficients.

x

a vector consisting of the inputs.

theta

a vector consisting of the theta coefficients.

es

the elasticity of substitution. If es is not NA, the value of sigma will be ignored.

Value

The output or utility level.

Examples

# NOT RUN {
CES(1, 1, c(0.4, 0.6), c(1, 1), c(0.4, 0.6))
# }
# NOT RUN {
# }