For example, one could attempt to estimate the parameters of a CRESH function of capital and labour inputs by age.
The fuzzy CES function in Prskawetz and Fent (2004) is replaced here by a CRESH function of labour inputs distinguished by age:
Restrictions exist on the range of values of the % that yield a unique solution for the CRESH function (Hanoch 1971).
In applying the CRESH function we assume that the degree of flexibility of workers varies with their age.
It would also have been desirable to parameterise the CRESH function such that workers in adjacent age groups are better substitutes than are workers further away in age.
(1971), 'CRESH Production Functions', Econometrica, vol 39, pp.
"Basically, CRESH operates as an academic application service provider (ASP), which allows higher education institutions across the country to offer students anywhere, anytime hands-on experience with the latest, industry-leading enterprise software from PeopleSoft," explains Webster.
Through its CRESH ASP program, Madison, SD-based Dakota State University provides schools access to PeopleSoft Enterprise Financial Management, Human Capital Management, Customer Relationship Management, and Supply Chain Management through PeopleSoft Enterprise Portal.
In particular, we assume that labour ([L.sub.j]), capital ([K.sub.j]) and land ([A.sub.j]) in the agricultural sector are combined to form effective units of the primary-factor input according to the CRESH function:
(2) For a discussion of CRESH functions, see Hanoch .