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A model was developed to determine the optimal slaughter weights of pigs with heterogeneous growth raised in a 1,000 head barn and marketed in truckload groups. Under commonly used revenue schemes, which include discounts for weight and leanness, the optimal strategy was to market one or two...
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We examine production economic implications of a specialized input to which a biological system (e.g., an animal) becomes desensitized over time, but its marginal productivity can be restored by increasing the dosage level. Optimal dosage levels and their timing become choice variables and may...
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The CES is generalized by extension of the work of Hanoch (1975) resulting in implicit, direct and indirect relationships between utility and consumption. Expressions for substitution and income elasticities are developed and observed to be variable, rather than constant as in the CES case.
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