Economics, Econometrics and Finance
8 years ago

New formula simplifies complex math calculations for economic production functions.

Kragujevac Journal of Mathematics
An explicit formula of Hessian determinants of composite functions and its applications
Bang‐Yen Chen

Paper Summary

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The article presents a simple formula for calculating the determinants of Hessian matrices for functions that involve multiple variables. This formula makes it easier to compute these determinants, which are important in various mathematical applications. The researchers also show how this formula can be applied to production functions in microeconomics.