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Linearly homogeneous |
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Linearly homogeneousHomogeneous of degree 1. Sometimes called linear homogeneous.Similar MatchesHomogeneous functionHomogeneous functionA function with the property that multiplying all arguments by a constant changes the value of the function by a monotonic function of that constant: F(lV)=g(l)F(V), where F(·) is the homogeneous function, V is a vector of arguments, l>0 is any constant, and g(·) is some strictly increasing positive function. Special cases include homogeneous of degree X and linearly homogeneous. First degree homogeneousFirst degree homogeneousHomogeneous of degree 1. Homogeneous of degree zeroHomogeneous of degree zeroThe property of a function that, if you scale all arguments by the same proportion, the value of the function does not change. See homogeneous of degree X. In the H-O Model, CRTS production functions imply that marginal products have this property, which is critical for FPE. Homogeneous of degree XHomogeneous of degree XA homogeneous function where the monotonic function is the constant raised to the exponent X: F(lV)=lXF(V). For X>1, see increasing returns to scale; for X<1, see decreasing returns to scale. HomogeneousHomogeneousExhibiting a high degree of homogeneity. Further SuggestionsHomogeneous expectations assumptionHomogeneous product Zero degree homogeneous Homogeneous of degree 1 |
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