Abstract
The neoclassical production function is one of the most frequently used theoretical instruments in micro- and macroeconomics when relations between factor input and product output, the influence of factor prices, the growth rates, the rate of technical progress and other variables on the production side of the economy are to be analysed. The development of this theory has been a success story: from the simple 2-factor static Cobb-Douglas production function to holothetic dynamic production functions (see Ryuzo Sato 1999, p. 316). The profession is much indebted to Ryuzo who always stood in the forefront of this research. When Ryuzo was at Bonn University in 1978, we worked together in this direction (see Krelle and Sato, 1978); actually Ryuzo did most of this work. In my book “Produktionstheorie” (1969) p. 154/155 I already mentioned the “Sato production function” as one of the newest developments of the neoclassical production function at that time.1 Thus, it is a nobile officium and a real pleasure for me to dedicate this paper to Ryuzo on the occasion of his 70th birthday, with best wishes and thanks for friendship and the many stimulations I have received when reading his articles.
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