Analysis of the Methodology of Constructing a Production Function Using Quality Criteria
In the article to forecast the trends of development of the state’s industry (for example, Ukraine), a method for evaluating the parameters included in the classical Cobb-Douglas formula is developed. On the basis of the computational experiment it was established that if the values of the productio...
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| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
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Sumy State University
2019-06-01
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| Series: | Журнал інженерних наук |
| Subjects: | |
| Online Access: | http://jes.sumdu.edu.ua/analysis-of-the-methodology-of-constructing-a-production-function-using-quality-criteria/ |
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| author | Skrynkovskyy R. M. Yuzevych V. M. Kataev A. V. Pawlowski G. Protsiuk T. B. |
| author_facet | Skrynkovskyy R. M. Yuzevych V. M. Kataev A. V. Pawlowski G. Protsiuk T. B. |
| author_sort | Skrynkovskyy R. M. |
| collection | DOAJ |
| description | In the article to forecast the trends of development of the state’s industry (for example, Ukraine), a method for evaluating the parameters included in the classical Cobb-Douglas formula is developed. On the basis of the computational experiment it was established that if the values of the production function Y are close to the numerical values and the deviation between them does not exceed 3.7 %, then for approximation of Y in the industry for small time periods, it makes no sense to complicate the set of its parameters and coefficients. For forecasting the values of Yi (Yi Î Y) we have evaluated the parameters that are included in the classical Cobb-Douglas formula. To improve the methodology for estimating the coefficients included in the Cobb-Douglas type formula, new variants of the multiplicative and additive quality criteria and for the Ukrainian industry are proposed, based on the analytical data for 2010–2017, the evaluation of the relevant criteria was carried out. |
| format | Article |
| id | doaj-art-62b74e1da9f04213bc53396bba86cae0 |
| institution | OA Journals |
| issn | 2312-2498 2414-9381 |
| language | English |
| publishDate | 2019-06-01 |
| publisher | Sumy State University |
| record_format | Article |
| series | Журнал інженерних наук |
| spelling | doaj-art-62b74e1da9f04213bc53396bba86cae02025-08-20T02:24:00ZengSumy State UniversityЖурнал інженерних наук2312-24982414-93812019-06-0161B1B510.21272/jes.2019.6(1).b1Analysis of the Methodology of Constructing a Production Function Using Quality CriteriaSkrynkovskyy R. M.0Yuzevych V. M.1Kataev A. V.2Pawlowski G.3Protsiuk T. B.4Lviv University of Business and Law, 99 Kulparkіvska St., 79021 Lviv, UkraineKarpenko Physico-Mechanical Institute of the NAS of Ukraine, 5 Naukova St., 79060 Lviv, UkraineKharkiv Institute of Trade and Economics of Kyiv National University of Trade and Economics, 8 Otakara Yarosha St., 61045 Kharkiv, UkraineZaklad Handlowo-Uslugowy BHP”, 17 Kostrzynska St., 69-113 Gorzyca, PolandAcademy of Financial Monitoring, 24 Biloruska St., 04050 Kyiv, UkraineIn the article to forecast the trends of development of the state’s industry (for example, Ukraine), a method for evaluating the parameters included in the classical Cobb-Douglas formula is developed. On the basis of the computational experiment it was established that if the values of the production function Y are close to the numerical values and the deviation between them does not exceed 3.7 %, then for approximation of Y in the industry for small time periods, it makes no sense to complicate the set of its parameters and coefficients. For forecasting the values of Yi (Yi Î Y) we have evaluated the parameters that are included in the classical Cobb-Douglas formula. To improve the methodology for estimating the coefficients included in the Cobb-Douglas type formula, new variants of the multiplicative and additive quality criteria and for the Ukrainian industry are proposed, based on the analytical data for 2010–2017, the evaluation of the relevant criteria was carried out.http://jes.sumdu.edu.ua/analysis-of-the-methodology-of-constructing-a-production-function-using-quality-criteria/production functionCobb-Douglas functionquality criteriaindustryindustrial products |
| spellingShingle | Skrynkovskyy R. M. Yuzevych V. M. Kataev A. V. Pawlowski G. Protsiuk T. B. Analysis of the Methodology of Constructing a Production Function Using Quality Criteria Журнал інженерних наук production function Cobb-Douglas function quality criteria industry industrial products |
| title | Analysis of the Methodology of Constructing a Production Function Using Quality Criteria |
| title_full | Analysis of the Methodology of Constructing a Production Function Using Quality Criteria |
| title_fullStr | Analysis of the Methodology of Constructing a Production Function Using Quality Criteria |
| title_full_unstemmed | Analysis of the Methodology of Constructing a Production Function Using Quality Criteria |
| title_short | Analysis of the Methodology of Constructing a Production Function Using Quality Criteria |
| title_sort | analysis of the methodology of constructing a production function using quality criteria |
| topic | production function Cobb-Douglas function quality criteria industry industrial products |
| url | http://jes.sumdu.edu.ua/analysis-of-the-methodology-of-constructing-a-production-function-using-quality-criteria/ |
| work_keys_str_mv | AT skrynkovskyyrm analysisofthemethodologyofconstructingaproductionfunctionusingqualitycriteria AT yuzevychvm analysisofthemethodologyofconstructingaproductionfunctionusingqualitycriteria AT kataevav analysisofthemethodologyofconstructingaproductionfunctionusingqualitycriteria AT pawlowskig analysisofthemethodologyofconstructingaproductionfunctionusingqualitycriteria AT protsiuktb analysisofthemethodologyofconstructingaproductionfunctionusingqualitycriteria |