Fig. 3: Substitution between HDI and WHR (CES function) compared to HDI index ranking. | Humanities and Social Sciences Communications

Fig. 3: Substitution between HDI and WHR (CES function) compared to HDI index ranking.

From: Experimenting with a strong dual necessity approach to social progress

Fig. 3

The countries are ranked according to two dual necessity CES functions, one with an elasticity of substitution of 3 (high) and one with an elasticity of substitution of 0.1 (low). They are then plotted against their rankings according to the Human Development Index (HDI).

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