Modeling the Elasticity of Ulaanbaatar Development Index in Connection with its Sub-Indices

This research presents the results of four simulations using the Cobb-Douglas function to model the impact of 86 sub-indices on the Ulaanbaatar Development Index. The 86 sub-indices and the general index for 2023, as calculated by scientific organizations, serve as the primary data. To estimate the elasticities of the city indices, the Cobb-Douglas function was reformulated and analyzed using the least squares method. The numerical computations were performed in Python with the CVXPY package.