Simultaneous equation production functions (cobb‐douglas type) for decisions pertaining to sea‐based tactical air resources

Chantee Lewis

Naval Research Logistics Quarterly, 1974, vol. 21, issue 3, 491-503

Abstract: This paper proposes the use of a set of simultaneous, modified Cobb‐Douglas production functions to determine the “best” mix of aircraft inputs (men, spare parts, support equipment, etc.) to achieve certain levels of output. The simultaneous equations are “solved” by the use of proxy values in an iterative search process. Tests of this production function model indicate that real world data fits quite well (R2 ranges from 0.884 to 0.951) and the residuals do not appear to have any significant bias. The aircraft production functions for several types of aircraft (F‐4, A‐7, A‐6, A‐4) have been maximized for a fixed budget and specific constraints. A potential increase in output of up to 10 percent appears possible. In general the marginal value of spare parts surpasses the other inputs.

Date: 1974
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://doi.org/10.1002/nav.3800210309

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wly:navlog:v:21:y:1974:i:3:p:491-503

Access Statistics for this article

More articles in Naval Research Logistics Quarterly from John Wiley & Sons
Bibliographic data for series maintained by Wiley Content Delivery ().