Naslov
The Measure of Savings in the Production Process

Autori
Vrankić, Ilko ; Oraić, Mira ; Lukač, Zrinka

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Proceedings of the ITI 2012 34th International Conference on INFORMATION TECHNOLOGY INTERFACES / Luzar-Stiffler, Vesna ; Jarec, Iva ; Bekić, Zoran - Zagreb, 2012, 473-478

ISBN
978-953-7138-24-0

Skup
ITI 2012

Mjesto i datum
Dubrovnik, Hrvatska; Cavtat, Hrvatska, 25.06.2012. - 28.06.2012

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Elasticity of substitution; economic costs; economic savings

Sažetak
This paper follows our theoretical research on the elasticity of substitution. We use the results derived to emphasize the new measure of savings in the production process resulting from the substitution of the more expensive production factor with the cheaper one [5]. The results are illustrated numerically due to their importance in empirical studies. Thus we demonstrate the practical application of general and abstract theoretical understanding of the economic savings in the production process and emphasize the didactic value of the paper. Numerical example also serves as the motivation for the new issue of compensating the change in elasticity of substitution with the corresponding change in scale.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA