A Cost Function Based on Learning Theory.

Abstract

An attempt is made to integrate learning theory and economic theory by using an economic model and formulating a cost function which has costs of production as a function of the total volume of output and the length of the time horizon of production. Calculus and dynamic programming approaches are demonstrated. A model formulated and partially solved is used to derive an analytical cost function with the desired attributes. The conclusions drawn from this analytical cost function are mentioned with previous endeavors in the field. (Author)

Document Details

Document Type
Technical Report
Publication Date
Jun 01, 1970
Accession Number
AD0875883

Entities

People

  • John S. Armbrust

Organizations

  • Air Force Institute of Technology

Tags

DTIC Thesaurus Topics

  • Calculus
  • Computer Programming
  • Dynamic Programming
  • Economic Models
  • Learning
  • Mathematics
  • Production

Readers

  • Operations Research
  • Systems Analysis and Design