Fitting of full Cobb-Douglas and full VRTS cost frontiers by solving goal programming problem

14th International Conference on Science, Engineering and Technology

自然科学;工业技术

Venkateswarlu, B.^1 ; Mahaboob, B.^2 ; Subbarami Reddy, C.^3 ; Madhusudhana Rao, B.^4

Department of Mathematics, School of Advanced Sciences, VIT University, Vellore

632014, India^1

Department of Mathematics, Swetha Institute of Technology and Science, Tirupati

Andhra Pradesh, India^2

Department of Statistics, S.V.University, Tirupati

Andhra Pradesh, India^3

Department of Information Technology, Higher College of Technology Muscat, Oman^4

关键词: Cobb-Douglas production function;    Construction projects;    Construction schedules;    Production frontier;    Production function;    Stochastic frontier analysis;    Stochastic frontier approaches;    Technical efficiency;   

Others  :  https://iopscience.iop.org/article/10.1088/1757-899X/263/4/042127/pdf
DOI  :  10.1088/1757-899X/263/4/042127

来源: IOP

【 摘 要 】

The present research article first defines two popular production functions viz, Cobb-Douglas and VRTS production frontiers and their dual cost functions and then derives their cost limited maximal outputs. This paper tells us that the cost limited maximal output is cost efficient. Here the one side goal programming problem is proposed by which the full Cobb-Douglas cost frontier, full VRTS frontier can be fitted. This paper includes the framing of goal programming by which stochastic cost frontier and stochastic VRTS frontiers are fitted. Hasan et al. [1] used a parameter approach Stochastic Frontier Approach (SFA) to examine the technical efficiency of the Malaysian domestic banks listed in the Kuala Lumpur stock Exchange (KLSE) market over the period 2005-2010. AshkanHassani [2] exposed Cobb-Douglas Production Functions application in construction schedule crashing and project risk analysis related to the duration of construction projects. Nan Jiang [3] applied Stochastic Frontier analysis to a panel of New Zealand dairy forms in 1998/99-2006/2007.