Abstract
Production is the most fundamental activity in our economy. In this paper, a Cobb-Douglas production function is used as the mathematical model to describe the relationship among production, labor and capital. Two reliable production optimal control problems are studied. Algorithms to find dynamic optimal control intervals are provided with interval parameter presentations and interval computations.
This is a preview of subscription content, log in via an institution to check access.
Similar content being viewed by others
References
Alefeld, G. and Herzberger, J.: Introduction to Interval Computations, Academic Press, New York, 1983.
Kearfott, R. B., Dawande, M., Du, K., and Hu, C.: Algorithm 737: INTLIB: A Portable Fortran-77 Interval Standard-Function Library, ACM Trans. Math. Software 20(4) (1994), pp. 447-459.
Lancaster, K.: Introduction to Modern Micro Economics, Rand McNally & Co., Chicago, 1969.
Mings, T.: The Study of Economics: Principles, Concepts & Applications, Dushkin Publ., Guilford, CT, 1991.
Moore, R. E.: Interval Arithmetic and Automatic Error Analysis in Digital Computing, Ph.D. Dissertation, Stanford University, 1962.
Moore, R. E.: Methods and Applications of Interval Analysis, SIAM, Philadelphia, 1979.
Stewart, J.: Calculus, Brooks/Cole Publ. Co., Monterey, CA, 1991.
Author information
Authors and Affiliations
Rights and permissions
About this article
Cite this article
Hu, Z.H. Reliable Optimal Production Control with Cobb-Douglas Model. Reliable Computing 4, 63–69 (1998). https://doi.org/10.1023/A:1009902716765
Issue Date:
DOI: https://doi.org/10.1023/A:1009902716765