CES production function (1961)
Proposed by the American economist Kenneth Arrow (1921- ), Hollis Chenery (1918- ), BAGICHA S. MINHAS, and Robert Solow (1924- ), CES production function is also known as the constant elasticity of substitution function. Constant elasticity of substitution (CES), in economics, is a property of some production functions and utility functions. Specifically, it arises in a particular type of aggregator function which combines two or