Properties of cost and profit functions

1999 ◽  
pp. 153-158
Author(s):  
Knut Sydsæter ◽  
Arne Strøm ◽  
Peter Berck
Keyword(s):  
2006 ◽  
Vol 31 (1) ◽  
pp. 243-260 ◽  
Author(s):  
Subal C. Khumbhakar
Keyword(s):  

2017 ◽  
Vol 64 (2) ◽  
pp. 120-133
Author(s):  
Richard Arend ◽  
Moren Levesque ◽  
Maria Minniti

2015 ◽  
pp. 1-19
Author(s):  
Frederick Cubbage ◽  
Robert Davis ◽  
Diana Rodríguez Paredes ◽  
Yoanna Kraus Elsin ◽  
Ramon Mollenhauer ◽  
...  

1993 ◽  
Vol 56 (1) ◽  
pp. 43-50 ◽  
Author(s):  
H. Pasternak ◽  
J. I. Weller

AbstractAn iterative method is presented, based on the method of Moav and Hill (1966) to derive the optimum linear selection index for any number of traits with linear or non-linear profit functions. For non-linear profit functions the index weights will be functions of the trait means prior to selection and the selection intensity. Using the equations developed, the optimum selection index for three dairy cattle milk production traits was computed. Convergence was obtained after three to four iterations, and was robust to the starting values used for iteration. The ratio of expected genetic gains were only marginally different for selection intensities of 1 and 4 standard deviation units. Differences were greater for the index coefficients. All alternative indices tested gave lower gains in profit than the optimum index. For linear profit functions this index reduces to the standard linear index, and for two uncorrelated traits this index reduces to the index of Moav and Hill (1966).


1995 ◽  
Vol 61 (1) ◽  
pp. 165-175 ◽  
Author(s):  
J. C. M. Dekkers ◽  
P. V. Birke ◽  
J. P. Gibson

AbstractA method to obtain linear selection indexes that maximize objectives that involve average profit in one or more generations within a planning horizon based on non-linear profit functions, was derived through application of optimal control theory. The method involves simultaneous optimization of indexes for each generation in the planning horizon. Optimum linear indexes were found to be conform indexes derived from selection index theory, with economic values equal to a weighted sum of partial derivatives of the profit function at the trait means which result in each generation of the planning horizon. Numerical procedures to derive optimum indexes are presented. Methods and properties of alternative strategies for selection witli non-linear profit functions are illustrated for selection on egg weight and rate of lay in poultry. In the example, the additional benefit of selection indexes that maximize cumulative net present value of profit over a planning horizon of10 years was small relative to use of traditional selection procedures. Optimal indexes were also derived with a derivative-free non-linear programming optimizer, with identical results. The latter method also allows incorporation of additional constraints.Possible extensions of the optimal control methodology to address other problems related to optimization of selection over multiple generations are discussed.


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