Using Cobb-Douglas Functions in Nonlinear Proqramming: A Regional Sector Model

David L. Watt

No 283579, 1977 AAEA-WAEA Joint Meeting, July 31-August 3, San Diego, California from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Combining Cobb-Douglas production functions and a programming algorithm into a single framework provides an effective tool to simultaneously determine optimal input levels and commodity production levels. A regional application of the model involving an eight-year tracking period is reviewed. Profit maximization is enforced by equating the marginal value products with input prices. Input and output prices are represented by continuous functions.

Keywords: Production; Economics (search for similar items in EconPapers)
Pages: 12
Date: 1977-07
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea77:283579

DOI: 10.22004/ag.econ.283579

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