Definition:TheConstant Elasticity of Substitution Production Function or CESimplies, that any change in the input factors, results in the constant change in the output. In CES, the elasticity of substitution is constant and may not necessarily be equal to one or unity. The constant elasticity of ...
More recent considerations, however, have emphasized a need for there to be some objective meaning for the ancillary to be used. Objective ancillaries are central to the analysis of location-scale and transformation models when presented in terms of an error variable. Some general discussion may ...
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