Cobb-Douglas Production Functions-A Sceptical Note with Special Reference to Agriculture

A Sceptical Note with Special Reference to Agriculture N Krishnaji This paper shows that observations generated from a technology with fixed coefficients can be approximated welt by a Cobb-Douglas function with constant returns-to-scale. The approximation is shown to be robust with respect to both heterogeneity in input-output ratios and aggregation, under reasonable assumptions.