Tinbergen-Solow Production Function

time t

production elasticity with respect to labor s

rate r

This is a visualization of the Tinbergen–Solow equation. It is a modified version of the Cobb–Douglas production function, with an additional residual term

rt

e

. This function incorporates technological change, which is not reflected in the Cobb–Douglas production function. At a fixed time

t,

economic output

q

is still a function of labor

l

and capital

k

, but now as technological progress grows at rate

r>0

, the attainable economic outputs increase.