The per worker production function attempts to model how much a single employee will produce based on either land available or capital invested. The Malthusian model bases it solely on land while ...

We revisit Reinhardt's (1972) commonly used production function for physician services. This production function, although appropriate in some settings, is not adequate for more detailed studies. The ...

Businesses hold large quantities of cash reserves, which have average returns well below their investments in tangible capital. Businesses do this because these monetary assets provide services. One ...