A Cost Function Based on Learning Theory.
AIR FORCE INST OF TECH WRIGHT-PATTERSON AFB OH SCHOOL OF ENGINEERING
Pagination or Media Count:
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
- Administration and Management