Focuses on the application of stochastic linear programming in farm growth analysis in Texas. Evaluation of feasibility problems in farm growth analysis; Examination of the usefulness of the distribution method in est...
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Focuses on the application of stochastic linear programming in farm growth analysis in Texas. Evaluation of feasibility problems in farm growth analysis; Examination of the usefulness of the distribution method in establishing feasible rates of growth for a particular farm model; Approaches to the solutions of stochastic programming problems.
Examines the alternative programming models involving uncertainty. Application of the stochastic programming model on farm planning problem; Differences in the profitability of services; Theory of linear terms.
Examines the alternative programming models involving uncertainty. Application of the stochastic programming model on farm planning problem; Differences in the profitability of services; Theory of linear terms.
IT is possible with economy of means to achieve a simple but powerful generalisation of the cobweb theory. It is the purpose of this paper to do that. This new version of the cobweb theory is simple because it can be ...
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IT is possible with economy of means to achieve a simple but powerful generalisation of the cobweb theory. It is the purpose of this paper to do that. This new version of the cobweb theory is simple because it can be and is here illustrated with relatively simple mathematics at a level of generality that makes possible a complete graphical description of the results. It is powerful because it exploits methods that make possible an immediate extension of the theory to 'realistic,' quantitative dimensions. Indeed, using programming models such as those of Egbert and Heady [8] combined with demand functions such as those of Brandow [2], a 'realistic' quantitative analogue of the theory presented here should be possible. Our exercises here yield several such insights: (1) The supply function of the cobweb theory can be replaced by an explicit decision-making model of supply without losing any of the rigour of the theory. (2) 'Working capital' is a mechanism for transmitting market information as powerful and as crucial as relative prices and costs, and combines with them to control the evolution of the industry.[2] (3) An economy may well pass through distinct 'stages' or 'phases,' but the number and order of their appearance depends on the dimensions and all the data in the system. [ABSTRACT FROM AUTHOR]
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