Optimal Consumption in a Growth Model with the Cobb–Douglas Production Function

2009 ◽  
Vol 47 (6) ◽  
pp. 2991-3006 ◽  
Author(s):  
Hiroaki Morimoto ◽  
Xun Yu Zhou
Keyword(s):  
Production Function ◽  
Growth Model ◽  
Optimal Consumption ◽  
Douglas Production Function

scholarly journals Optimal Consumption in a Stochastic Ramsey Model with Cobb-Douglas Production Function

2013 ◽  
Vol 2013 ◽  
pp. 1-8 ◽  
Author(s):  
Md. Azizul Baten ◽  
Anton Abdulbasah Kamil
Keyword(s):  
Production Function ◽  
Viscosity Solution ◽  
Solution Method ◽  
Hjb Equation ◽  
Optimal Consumption ◽  
Ramsey Model ◽  
Discounted Utility ◽  
Hamilton Jacobi Bellman Equation ◽  
Hamilton Jacobi Bellman ◽  
Douglas Production Function

A stochastic Ramsey model is studied with the Cobb-Douglas production function maximizing the expected discounted utility of consumption. We transformed the Hamilton-Jacobi-Bellman (HJB) equation associated with the stochastic Ramsey model so as to transform the dimension of the state space by changing the variables. By the viscosity solution method, we established the existence of viscosity solution of the transformed Hamilton-Jacobi-Bellman equation associated with this model. Finally, the optimal consumption policy is derived from the optimality conditions in the HJB equation.

Optimal Consumption in a Growth Model with the CES Production Function

2007 ◽  
Vol 25 (5) ◽  
pp. 1025-1042 ◽  
Author(s):  
Md. Azizul Baten ◽  
A. B. M. A. Sobhan Miah
Keyword(s):  
Production Function ◽  
Growth Model ◽  
Optimal Consumption

Significance of Experience, Farm Size, Quantity of Propagules and Location f or Seaweed Farmers in the Divided Island of Sebatik

2018 ◽  
Vol 9 (9) ◽  
pp. 825-832
Author(s):  
James M. Alin ◽  
◽  
Datu Razali Datu Eranza ◽  
Arsiah Bahron ◽  
◽  
...  
Keyword(s):  
Regression Analysis ◽  
Multiple Regression Analysis ◽  
Multiple Regression ◽  
Production Function ◽  
Weather Conditions ◽  
Education Level ◽  
Farm Size ◽  
Total Production ◽  
Explanatory Factors ◽  
Douglas Production Function

Seaweed-Kappaphycus-Euchema Cottonii and Denticulum species was first cultivated at Sabah side of Sebatik in 2009. By November 2014, sixty one Sabahan seaweed farmers cultivated 122 ha or 3,050 long lines. Thirty Sabahan seaweed farmers in Kampung Pendekar (3.2 m.t dried) and 31 in Burst Point (12.5 m.t dried) produced 16 metric tonnes of dried seaweed contributed 31% to Tawau’s total production (51 m.t). The remaining 69% were from farmers in Cowie Bay that separates Sebatik from municipality of Tawau. Indonesian in Desa Setabu, Sebatik started in 2008. However, the number of Indonesian seaweed farmers, their cultivated areas and production (as well as quality) in Sebatik increased many times higher and faster than the Sabah side of Sebatik. In 2009 more than 1,401 households in Kabupaten Nunukan (including Sebatik) cultivated over 700 ha and have produced 55,098.95 and 116, 73 m.t dried seaweed in 2010 and 2011 respectively. There is a divergence in productions from farming the sea off the same island under similar weather conditions. Which of the eight explanatory factors were affecting production of seaweeds in Sebatik? Using Cobb Douglas production function, Multiple Regression analysis was conducted on 100 samples (50 Sabahan and 50 Indonesian). Results; Variable significant at α = 0.05% are Experience in farming whereas Farm size; Quantity of propagules and Location — Dummy are the variables significant at α 0.01%. Not significant are variables Fuel; Age; Number of family members involved in farming and Education level.

Efficient Cobb-Douglas Production Function

2019 ◽  
Vol 1 (1) ◽  
pp. 16-23
Author(s):  
Farhad Savabi ◽  
Keyword(s):  
Production Function ◽  
Douglas Production Function

PENERAPAN PENDUGAAN EFISIENSI ALOKATIF PADA USAHATANI BUNCIS (Phaseolus vulgaris, L)

2020 ◽  
Vol 21 (1) ◽  
pp. 81-90
Author(s):  
Marthen Robinson Pellokila
Keyword(s):  
Production Function ◽  
Allocative Efficiency ◽  
Maximum Output ◽  
Phaseolus Vulgaris L ◽  
Land Area ◽  
Price Efficiency ◽  
Efficiency Estimation ◽  
Area Use ◽  
A Company ◽  
Douglas Production Function

ABTRACT Efficiency is one of the important indicators to assess the performance of a company or farm. Efficiency guarantees the use of certain inputs to achieve maximum output levels (technical efficiency) and also efficiency ensures the use of certain inputs that maximize profits (price efficiency or allocative efficiency). This article discusses the application of the estimation of price efficiency / allocative efficiency of the use of production inputs in bean farming using the linearized Cobb-Douglas Production function. The results of the analysis shows that the application of price efficiency estimation for production inputs using the Cobb-Douglas production function is satisfactory as long as the classical assumptions required by the multiple regression are fulfilled. Of the five production inputs included in the model, only one production input provides a significant value to production, namely the production input for the land area use. Thus, only the production input for land area use is estimated at the value of its price efficiency. Based on the results of the analysis, it is found that the use of production inputs for land area use has not yet reached its price efficiency.

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