scholarly journals COMPARING CARCASS END-POINT AND PROFIT MAXIMIZATION DECISION RULES USING DYNAMIC NONLINEAR GROWTH FUNCTIONS — CORRIGENDUM

2015 ◽  
Vol 47 (2) ◽  
pp. 285-285
Author(s):  
JOSHUA G. MAPLES ◽  
KALYN T. COATNEY ◽  
JOHN M. RILEY ◽  
BRANDI B. KARISCH ◽  
JANE A. PARISH ◽  
...  
Keyword(s):  
Decision Rules ◽  
Profit Maximization ◽  
Applied Economics ◽  
Nonlinear Growth ◽  
Growth Functions ◽  
End Point

In the Journal of Agricultural and Applied Economics Volume 47 (Number 1), Equations 7 and 10 were published with errors.

scholarly journals COMPARING CARCASS END-POINT AND PROFIT MAXIMIZATION DECISION RULES USING DYNAMIC NONLINEAR GROWTH FUNCTIONS

2015 ◽  
Vol 47 (1) ◽  
pp. 1-25 ◽  
Author(s):  
JOSHUA G. MAPLES ◽  
KALYN T. COATNEY ◽  
JOHN M. RILEY ◽  
BRANDI B. KARISCH ◽  
JANE A. PARISH ◽  
...  
Keyword(s):  
Market Timing ◽  
Decision Rules ◽  
Profit Maximization ◽  
Status Quo ◽  
Marginal Product ◽  
Nonlinear Growth ◽  
Growth Functions ◽  
End Point ◽  
The Status ◽  
Dynamic Growth

AbstractThis article develops a market timing decision rule for cattle feeders based on profit maximization. We then compare it with the “status quo” strategy of feeding cattle to a targeted carcass end point. We estimate individual nonlinear dynamic growth functions to derive each animal's value of the marginal product in relation to days on feed. Given individual marginal factor costs, our results indicate that the use of a profit maximization rule could have increased average profits by $16.56 to $21.09 per head for the cattle of known age, and $7.67 to $11.32 per head if age was unknown.

Advertising Decision Rules in a Multibrand Environment: Optimal Control Theory and Evidence

1978 ◽  
Vol 15 (1) ◽  
pp. 82-92 ◽  
Author(s):  
Mario J. Picconi ◽  
Charles L. Olson
Keyword(s):  
Optimal Control ◽  
Control Theory ◽  
Decision Rule ◽  
Optimal Control Theory ◽  
Decision Rules ◽  
Profit Maximization ◽  
Analytical Models ◽  
Simultaneous Estimation ◽  
Empirical Estimates ◽  
Demand Sensitivity

The authors postulate that the firm pursues a present value profit maximization goal in determining its advertising strategy. Advertising is included in the profit function nonlinearly as a factor cost and as a demand stimulant. On the basis of optimal control theory, an optimal advertising-sales ratio decision rule is formulated with respect to the brand's demand parameters. Reliably collected data on sales and advertising expenditures on a bimonthly basis were used to obtain empirical estimates of the brand parameters. A simultaneous estimation of the demand parameters of all the competing brands was performed to harness efficiently the information inherent in the system of brand demand equations. Comparing the firm's behavior on brand advertising with the derived decision rule ratio suggests the potential usefulness of such analytical models for improving the productivity of advertising expenditures and for determining the change in advertising policy which would be appropriate in the event of changes in a brand's demand sensitivity.

scholarly journals Determination of a point sufficiently close to the asymptote in nonlinear growth functions

2011 ◽  
Vol 68 (1) ◽  
pp. 109-114 ◽  
Author(s):  
Martha Maria Mischan ◽  
Sheila Zambello de Pinho ◽  
Lídia Raquel de Carvalho
Keyword(s):  
Growth Function ◽  
Logistic Growth ◽  
Maximum Point ◽  
Segmented Regression ◽  
Nonlinear Growth ◽  
Growth Functions ◽  
Biological Meaning ◽  
Horizontal Asymptote ◽  
The Difference

Growth functions with upper horizontal asymptote do not have a maximum point, but we frequently question from which point growth can be considered practically constant, that is, from which point the curve is sufficiently close to its asymptote, so that the difference can be considered non-significant. Several methods have been employed for this purpose, such as one that verifies the significance of the difference between the curve and its asymptote using a t-test, and that of Portz et al. (2000), who used segmented regression. In the present work, we used logistic growth function, which has horizontal asymptote and one inflection point, and applied a new method consisting in the mathematical determination of a point in the curve from which the growth acceleration asymptotically tends to zero. This method showed the advantage to have biological meaning besides leading to a point quite close to those obtained using the beforementioned methods.

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