Cobb-Douglas Production Function with a Latent Variable and Its Empirical Study
Abstract: Cobb-Douglas production function represents the input-output relationship among the labor force, the invested fund, and the GDP in economics. Considering that the regional soft power (RSP) measures the realistic or underlying competitiveness of a region, it may be theoretically appro-priate to integrate RSP as a production factor into the production function. However, RSP is a latent variable, and thus needs a reasonable method of assigning its values. In this paper, we construct a new production function by introducing RSP to the Cobb-Douglas production function. The method of assigning values to RSP is discussed by virtue of factor analysis method L. The empirical study is made by applying the theoretical result to the thirteen cities of Jiangsu province.
文章引用: 高峰 , 刘绪庆 (2016) 含有潜变量的Cobb-Douglas生产函数模型及其实证分析。 统计学与应用， 5， 305-311. doi: 10.12677/SA.2016.53031
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