| SCES {GE} | R Documentation |
Standard CES Function
Description
Standard CES function, e.g. alpha * (beta1 * (x1 / beta1)^sigma + beta2 * (x2 / beta2)^sigma)^(1 / sigma) wherein beta1 + beta2 == 1.
Usage
SCES(sigma = 1 - 1/es, alpha, beta, x, 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. |
es |
the elasticity of substitution. If es is not NA, the value of sigma will be ignored. |
Value
The output or utility level.
Examples
beta <- c(0.6, 0.4)
SCES(alpha = 1, beta = beta, x = beta, es = 0.5)
[Package GE version 0.4.5 Index]