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