Revolutionizing Urban Economic Growth Management with Big Data Analysis!
The Cobb Douglas production function is a useful tool for understanding what factors affect a city's economic growth. By combining this function with computer technology, researchers can analyze data more effectively. This approach has become popular in studying how to manage economic growth in cities. The researchers in this paper looked at the theory behind the Cobb Douglas production function and then applied it to real-world urban economic growth. They used computer technology to estimate and adjust the model, revealing how different variables impact a city's local economic growth.