| Abstract [eng] |
The aim of the work is to analyze production function, Cobb-Douglas production function and create logistic Cobb-Douglas production function model using logistic functions for labour and capital evaluating. The main tasks are to review production function and its features, analyze Cobb-Douglas function and logistic capital accumulation models. After analysing Cobb-Douglas production function and logistic accumulation models propose logistic Cobb-Douglas production function model. Measure the coefficients of this model, and use it to calculate USA production output in 1899 -1922.Compare the possibilities of Cobb-Douglas production function and logistic Cobb-Douglas production function model to calculate production output. The methods used in the work are the following: general identification method, comparison, deduction, designing, analysis of alternatives, analysis of documents, synthesis, generalization, conversation methods, observation. Results – after analysing Cobb-Douglas production function and logistic capital accumulation models the logistic Cobb-Douglas production function model was created. It outlines the trend of USA production output in 1899 – 1922. It is better than simple Cobb-Douglas production function, because there is no need to find the values of labour and capital every year, because it is very difficult to measure these values. Also the logistic Cobb-Douglas production function model was created by using logistic accumulation recurrent relations functions for capital and labour values modification, with which the values of production output is closer to the real output than by using simple Cobb-Douglas production function. This model is better than Cobb-Douglas production function, because its standard deviation is 41,049 and standard deviation of Cobb-Douglas production function is 42,622. Besides the sum of differences between real and modelled values’ squares is lesser then using logistic model than simple Cobb-Douglas production function.- The work comprises of 49 pages, including 25 charts and 17 images. |
