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Civil and Environmental Engineering

2012

Cobb-Douglas Production Function

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Applications Of Cobb-Douglas Production Function In Construction Time-Cost Analysis, Ashkan Hassani Dec 2012

Applications Of Cobb-Douglas Production Function In Construction Time-Cost Analysis, Ashkan Hassani

Construction Systems -- Dissertations & Theses

Cobb-Douglas Production Function was widely used in economics and productivity studies across many sectors. The function’s quantitative modeling of resource inputs and production outputs is appealing to the research domain of construction management. In this thesis we explored this function’s application in construction schedule crashing and project risk analysis related to duration of construction projects. Existing research on construction time-cost tradeoff issues rarely explore the origin of the crashing cost which is defined as the cost needed to shorten the project to the desired duration. In the existing literature crashing cost function was either assumed without much justification ...