The Experts below are selected from a list of 10716 Experts worldwide ranked by ideXlab platform
Ping Guo - One of the best experts on this subject based on the ideXlab platform.
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A Regional Water Optimal Allocation Model Based on the Cobb-Douglas Production Function under Multiple Uncertainties
Water, 2017Co-Authors: Fan Zhang, Qian Tan, Chenglong Zhang, Shanshan Guo, Ping GuoAbstract:To optimize the water distribution of three industries based on the water demand prediction under multiple uncertainties, a fuzzy credibility-constrained interval two-stage stochastic programming (FCITSP) model base on the Cobb-Douglas Production (CD) Function was developed. The CD-FCITSP model integrated fuzzy credibility-constrained programming (FCP), an interval two-stage stochastic programming (ITSP) method and CD Function. The developed model could deal with uncertainties with interval, random, and fuzzy features, reflect tradeoffs between different water use sectors, and provide water managers in arid regions with sustainable and reasonable water-allocation schemes under different credibility scenarios of local policies. Moreover, the relationships between economic benefits and water consumption were taken into consideration via the Cobb-Douglas Production Function. The developed model was applied to support the optimal allocation of limited water resources in Minqin County, northwest China. The obtained solution demonstrated that the developed method could help local water managers to effectively allocate limited water under multiple uncertainties and different credibility scenarios. In addition, water use efficiency could be promoted and the emissions of major pollutants could be reduced. The developed method could be extended to water management practices in other arid regions
Michael V. Orlov - One of the best experts on this subject based on the ideXlab platform.
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Optimal resource distribution program in a two-sector economic model with a Cobb-Douglas Production Function with distinct amortization factors
Differential Equations, 2012Co-Authors: Yu. N. Kiselev, Michael V. OrlovAbstract:We consider a resource distribution problem on a finite time interval with a terminal Functional for a two-sector economic model with a two-factor Cobb-Douglas Production Function with distinct amortization factors. The problem can be reduced to a canonical form by scaling the state variables and time. We prove the optimality of an extremal solution constructed with the use of the maximum principle. For the case in which the initial state of the plant lies above the singular ray, the solution of the boundary value problem of the maximum principle is presented in closed form.
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Investigating a two-sector model of economic growth with the Cobb-Douglas Production Function
Moscow University Computational Mathematics and Cybernetics, 2010Co-Authors: U. N. Kiselev, Michael V. OrlovAbstract:The optimum solution to a two-sector model of economic growth with the Cobb-Douglas Production Function is described. One of the phase coordinates is maximized at the end point of time. The planning horizon is finite, fixed, and sufficiently large. The solution is based on the Pontryagin maximum principle, which contains the necessary optimality conditions. The optimality of an extreme solution developed on the basis of the maximum is determined. A constructive description of the optimum solution is suggested.
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Optimal resource allocation program in a two-sector economic model with a Cobb-Douglas Production Function
Differential Equations, 2010Co-Authors: Yu. N. Kiselev, Michael V. OrlovAbstract:We consider the resource allocation problem for a two-sector economic model with a two-factor Cobb-Douglas Production Function on a finite time horizon with a terminal Functional. The problem is reduced to some canonical form by a scaling of the phase variables and time. We prove the optimality of the extremal solution constructed on the basis of the maximum principle. The solution of the boundary value problem of the maximum principle is constructed in closed form for three cases of location of the initial plant state.
Deyong Kang - One of the best experts on this subject based on the ideXlab platform.
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On the inapplicability of the Cobb-Douglas Production Function for estimating the benefit of water use and the value of water resources.
Water Resources Management, 2016Co-Authors: Shaofeng Jia, Qiubo Long, Raymond Yu Wang, Jiabo Yan, Deyong KangAbstract:The Cobb-Douglas Production Function is often used to estimate the benefit of water use and the value of water; however, this is an incorrect application. A typical example of the inapplicability is that a negative output elasticity of water resources may be reached when empirical data is collected from the United States, Japan and the city of Beijing in China, where economic growth still increases when the quantity of water use decreases. It is counter-factual that the benefit of water use or the value of water resources are negatively associated with economic Production as estimated by the Cobb-Douglas Production Function. In the case of a positive output elasticity of water resources, the Cobb-Douglas Production Function cannot be used either. The main reason is that the elasticity of water resources, as an input factor, reflects only part of its total contribution to economic output. In other words, the contribution of water resources to total economic growth, to a great extent, are embodied in total factor productivity, which refers to the portion of output that cannot be explained by the amount of water resources input in the Cobb-Douglas Production Function. For example, many technological and socio-economic inputs such as the investment on water saving technologies and the optimization of water use structure, surely embody the value of water and account for total economic output, yet these factors are not reflected by the economic output elasticity of water resources in the Cobb-Douglas Production Function.
Ajit Kumar Majumder - One of the best experts on this subject based on the ideXlab platform.
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On Measurement of Efficiency of Cobb-Douglas Production Function with Additive and Multiplicative Errors
Statistics Optimization & Information Computing, 2015Co-Authors: Moyazzem Hossain, Ajit Kumar MajumderAbstract:In developing counties, efficiency of economic development has determined by the analysis of industrial Production. An examination of the characteristic of industrial sector is an essential aspect of growth studies. The most of the developed countries are highly industrialized as they brief "The more industrialization, the more development". For proper industrialization and industrial development we have to study industrial input-output relationship that leads to Production analysis. For a number of reasons econometrician's belief that industrial Production is the most important component of economic development because, if domestic industrial Production increases, GDP will increase, if elasticity of labor is higher, implement rates will increase and investment will increase if elasticity of capital is higher. In this regard, this paper choose and estimate the parameters of Cobb-Douglas Function with additive errors and multiplicative errors for some selected manufacturing industries of Bangladesh over the period 1978-79 to 2011-2012, which should be helpful in suggesting the most suitable Cobb-Douglas Production Function to forecast the Production process for some selected manufacturing industries of developing countries like Bangladesh. This paper also investigates the efficiency of both capital and labor elasticity of the two mentioned form of Cobb-Douglas Production Function. The estimated results shows that the estimates of both capital and labor elasticity of Cobb-Douglas Production Function with additive errors are more efficient than those estimates of Cobb-Douglas Production Function with multiplicative errors.
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Application of Non-Linear Cobb-Douglas Production Function with Autocorrelation Problem to Selected Manufacturing Industries in Bangladesh
Open Journal of Statistics, 2013Co-Authors: Moyazzem Hossain, Tapati Basak, Ajit Kumar MajumderAbstract:In developing counties, efficiency of economic development has been determined by the analysis of industrial Production. An examination of the characteristic of industrial sector is an essential aspect of growth studies. The growth of a country can be measured by Gross Domestic Product (GDP). GDP is substantially affected by the industrial output. Industrial gross output is mainly a Function of capital and labor input. If the effect of labor and capital input to output is at a satisfactory level in an industry or in a group of industries, then industrial investment will increase. As a result, the number of industries will increase, which will directly affect GDP and also will decrease the unemployment rate. This is why, industrial input-output relationship is so important for any industry as well as for the overall industrial sector of a country. To forecast the Production of a firm is necessary to identify the appropriate model. MD. M. Hossain et al. [1] have shown that Cobb-Douglas Production Function with additive errors was more suitable for some selected manufacturing industries in Bangladesh. The main purpose of this paper is to detect the autocorrelation problem of Cobb-Douglas Production model with additive errors. The result shows that autocorrelation is presented in some manufacturing industries. Finally, this paper removes the autocorrelation problem and re-estimates the parameters of the Cobb- Douglas Production Function with additive errors.
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an application of non linear cobb douglas Production Function to selected manufacturing industries in bangladesh
Open Journal of Statistics, 2012Co-Authors: Md Moyazzem Hossain, Ajit Kumar Majumder, Tapati BasakAbstract:Recently, businessmen as well as industrialists are very much concerned about the theory of firm in order to make correct decisions regarding what items, how much and how to produce them. All these decisions are directly related with the cost considerations and market situations where the firm is to be operated. In this regard, this paper should be helpful in suggesting the most suitable Functional form of Production process for the major manufacturing industries in Bangladesh. This paper considers Cobb-Douglas (C-D) Production Function with additive error and multiplicative error term. The main purpose of this paper is to select the appropriate Cobb-Douglas Production model for measuring the Production process of some selected manufacturing industries in Bangladesh. We use different model selection criteria to compare the Cobb-Douglas Production Function with additive error term to Cobb-Douglas Production Function with multiplicative error term. Finally, we estimate the parameters of the Production Function by using optimization subroutine.
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An Application of Non–Linear Cobb-Douglas Production Function to Selected Manufacturing Industries in Bangladesh
Open Journal of Statistics, 2012Co-Authors: Moyazzem Hossain, Ajit Kumar Majumder, Tapati BasakAbstract:Recently, businessmen as well as industrialists are very much concerned about the theory of firm in order to make correct decisions regarding what items, how much and how to produce them. All these decisions are directly related with the cost considerations and market situations where the firm is to be operated. In this regard, this paper should be helpful in suggesting the most suitable Functional form of Production process for the major manufacturing industries in Bangladesh. This paper considers Cobb-Douglas (C-D) Production Function with additive error and multiplicative error term. The main purpose of this paper is to select the appropriate Cobb-Douglas Production model for measuring the Production process of some selected manufacturing industries in Bangladesh. We use different model selection criteria to compare the Cobb-Douglas Production Function with additive error term to Cobb-Douglas Production Function with multiplicative error term. Finally, we estimate the parameters of the Production Function by using optimization subroutine.
Fan Zhang - One of the best experts on this subject based on the ideXlab platform.
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A Regional Water Optimal Allocation Model Based on the Cobb-Douglas Production Function under Multiple Uncertainties
Water, 2017Co-Authors: Fan Zhang, Qian Tan, Chenglong Zhang, Shanshan Guo, Ping GuoAbstract:To optimize the water distribution of three industries based on the water demand prediction under multiple uncertainties, a fuzzy credibility-constrained interval two-stage stochastic programming (FCITSP) model base on the Cobb-Douglas Production (CD) Function was developed. The CD-FCITSP model integrated fuzzy credibility-constrained programming (FCP), an interval two-stage stochastic programming (ITSP) method and CD Function. The developed model could deal with uncertainties with interval, random, and fuzzy features, reflect tradeoffs between different water use sectors, and provide water managers in arid regions with sustainable and reasonable water-allocation schemes under different credibility scenarios of local policies. Moreover, the relationships between economic benefits and water consumption were taken into consideration via the Cobb-Douglas Production Function. The developed model was applied to support the optimal allocation of limited water resources in Minqin County, northwest China. The obtained solution demonstrated that the developed method could help local water managers to effectively allocate limited water under multiple uncertainties and different credibility scenarios. In addition, water use efficiency could be promoted and the emissions of major pollutants could be reduced. The developed method could be extended to water management practices in other arid regions