Some Propositions on Cost Functions.

Abstract

In this paper, a model is developed for a firm producing to an order which specifies a quantity and a delivery date for output. The order serves to constrain a production program which minimizes the discounted cost of producing at a constant output rate. The model is formed by augmenting a homogenous production function with a learning hypothesis and deriving a cost function. The cost function is then compared to several results due to Alchian, Hirshleifer, and Oi.

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Document Details

Document Type
Technical Report
Publication Date
Jul 01, 1980
Accession Number
ADA097539

Entities

People

  • Norman K. Womer

Organizations

  • Clemson University

Tags

Communities of Interest

  • Air Platforms
  • Materials and Manufacturing Processes

DTIC Thesaurus Topics

  • Aircraft Industry
  • Aircrafts
  • Assembly
  • Assembly Lines
  • Contracts
  • Elastic Properties
  • Learning
  • Manufacturing
  • Military Research
  • Models
  • Production
  • Production Models
  • Production Rate
  • Security
  • Standards
  • Steady State

Readers

  • Industrial Economics
  • Life Cycle Cost Analysis
  • Regression Analysis.