The modelling of the extended Cobb-Douglas production function under uncertainty of initial data

Abstract

Cobb-Douglas function – one of the most popular tools for analyzing the relationship of the resulting and explaining factors of production and economic activity. It construction traditionally carried out using mathematical and statistical methods. The problems of identification of this type models are largely due to the a priori uncertainty of the available data, in particular, their inaccuracy and insufficient depth of presentation. The article describes the developed method of parametric identification of the extended Cobb-Douglas function, leveling these types of uncertainty. The method is based on the use of the idea of L. V. Kantorovich to calculate the interval estimates of the required parameters.