The problem of simultaneous equation bias is examined in the context of the Cobb-Douglas production function and firm decision functions, assuming competition. Two extreme models are specified, ...

Wages, Productivity, and Worker Characteristics: Evidence from Plant‐Level Production Functions and Wage Equations ...

In my last post on my Debtwatch blog, I finished by saying that the Physiocrats were the only School of economics to properly consider the role of energy in production. They ascribed it solely to ...

Production volume variance measures overhead cost per unit of actual production against the expectations reflected in a business's budget.