Accession Number : AD0638012

Title :   PRICE AND PRODUCTIVE UNCERTAINTIES IN DYNAMIC PLANNING.

Corporate Author : RAND CORP SANTA MONICA CALIF

Personal Author(s) : Hurter ,Arthur P. ; Moses,Michael A.

Report Date : AUG 1966

Pagination or Media Count : 31

Abstract : The model is developed with reference to a single decision maker and incorporates intertemporal and interspatial considerations with some of the important aspects of inventory control models. The model is discussed in terms of an individual farmer attempting to plan his production and sales over an N year planning horizon. A series of models is presented. The first section considers the production and sale of one commodity in a single market. In the second section, the price and production uncertainties are introduced and the model is solved using chance constrained programming. The third section extends the model to a multimarket, multicommodity case. (Author)

Descriptors :   (*INVENTORY CONTROL, MATHEMATICAL MODELS), DYNAMIC PROGRAMMING, PRODUCTION, COSTS, LINEAR PROGRAMMING, DETERMINANTS(MATHEMATICS), DECISION MAKING

Subject Categories : Economics and Cost Analysis

Distribution Statement : APPROVED FOR PUBLIC RELEASE