Production Over Time

Svend Rasmussen ()
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Svend Rasmussen: University of Copenhagen

Chapter 14 in Production Economics, 2013, pp 145-162 from Springer

Abstract: Abstract Time is a key input in all kinds of production. However, the subject of using time for production is more relevant in some industries than in others. The distinguishing feature of agriculture and other biologically based industries compared to other industries is the fact that production often takes quite a long time. Just think of the production of wood from beech trees, which first reach maturity after 50–100 years of growth!

Keywords: Optimal Lifetime; Continued Accrual; Subsequent Asset; Extra Profits; Optimal Termination Time (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-642-30200-8_14

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DOI: 10.1007/978-3-642-30200-8_14

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