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Constant Elasticity Of Transformation
Constant Elasticity of Transformation (CET) was first advanced by Alan Powell and Fred Gruen Fred Henry George Gruen (14 June 192129 October 1997) was an Australian economist, an early and influential voice in favour of free trade and tariff reductions in the 1960s and 1970s. Early life and education Grün was born in Vienna, Austri ... in a 1968 publication. It is a new form of production-possibility frontier. Following on that early work, George Philippidis made a detailed introduction of the CET function in 1999. The CET is the corollary CES function, where the production possibilities of the firm (industry) are a function of different combination of supply activities. References {{DEFAULTSORT:Constant Elasticity Of Transformation Production economics ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fred Gruen
Fred Henry George Gruen (14 June 192129 October 1997) was an Australian economist, an early and influential voice in favour of free trade and tariff reductions in the 1960s and 1970s. Early life and education Grün was born in Vienna, Austria, and known as 'Heinzie' during his boyhood. He left Vienna in 1936 on the £200 legacy of an uncle to receive an English education at Herne Bay College. It was a good time for someone of Jewish descent to be leaving Austria. His father Willy, a heavy smoker, died of lung cancer while he was at school in England and his mother Marianne (née Zwack) was engulfed in The Holocaust being taken first to Theresienstadt and thence to Auschwitz after which she was not seen again. Gruen was unsure of what to do with himself after leaving high school. With consequences that would ramify at the end of his life, he worked for some time for a printer. In the same speech in which he promised to "fight on the beaches" Churchill announced widespread ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
George Philippidis
Dr. George Philippidis is a renewable energy and sustainability leader, who has published and spoken extensively about the global need for renewable energy as the foundation of a green economy and a sustainable society. He advocates the development of renewable power and fuels to enhance energy security, combat climate change, and secure sustainable economic growth. He has authored 11 cleantech patents, written numerous articles, and spoken nationally and internationally emphasizing that renewable energy can initially supplement and augment current resources and progressively replace fossil energy based on its own merits rather than on government policy. Biography Dr. Philippidis is a Fulbright Specialist Scholar. He received a B.S. in Chemical Engineering from the Aristotle University of Thessaloniki in Macedonia, Greece and a Ph.D. in Chemical Engineering from the University of Minnesota in Minneapolis-St. Paul. He also obtained a Master's in Business Administration (MBA) f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Constant Elasticity Of Substitution
Constant elasticity of substitution (CES), in economics, is a property of some production functions and utility functions. Several economists have featured in the topic and have contributed in the final finding of the constant. They include Tom McKenzie, John Hicks and Joan Robinson. The vital economic element of the measure is that it provided the producer a clear picture of how to move between different modes or types of production. Specifically, it arises in a particular type of aggregator function which combines two or more types of consumption goods, or two or more types of production inputs into an aggregate quantity. This aggregator function exhibits constant elasticity of substitution. CES production function Despite having several factors of production in substitutability, the most common are the forms of elasticity of substitution. On the contrary of restricting direct empirical evaluation, the constant Elasticity of Substitution are simple to use and hence are widely u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
