Consider the C.E.S. utility function
$$U(x, y) = (ax^{-c} + by^{-c})^{-\frac{1}{c}} $$
Is it true that we must have $a+b=1$ in order to obtain a Cobb-Douglas utility function as $c\rightarrow 0$?
In the C.E.S. utility function do the paramaters need to add up to unitym to obtain Cobb-Douglas?
Alecos Papadopoulos
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