Springer Texts in Business and Economics

Production Economics

The Basic Theory of Production Optimisation

Authors: Rasmussen, Svend

  • Uses a great combination of graphical illustration and mathematical analysis
  • Includes theory of timing of production and timing of replacement of assets
  • Shows how to build and apply linear programming for production planning
  • Features numerous illustrative examples
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eBook $79.99
price for USA (gross)
  • ISBN 978-3-642-30200-8
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $109.00
price for USA
  • ISBN 978-3-642-30199-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $109.00
price for USA
  • ISBN 978-3-642-43936-0
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
About this Textbook

This book covers the basic theory of how, what and when firms should produce to maximise profits. Based on the neoclassical theory of the firm presented in most general microeconomic textbooks, it extends the general treatment and focuses on the application of the theory to specific problems that the firm faces when making production decisions to maximise profits. Increasing level of government regulation and the use of specialised and often very expensive equipment in modern production motivates the following focus areas: 1) How to optimise production under restrictions., 2) Treatment of fixed inputs and the process of input fixation, 3) Optimisation of production over time, 4) Linear and Mixed Integer Programming as tools for optimisation in practice. This updated second edition includes a more comprehensive introduction to the theory of decision making under risk and uncertainty as well as a new chapter on how to use linear programming to generate the supply function of the firm.

About the authors

Svend Rasmussen is a senior associate professor at Institute of Food and Resource Economics, University of Copenhagen where he teaches bachelor, master and PhD students and carries out research within the area of production economics. He has a PhD from The Royal Veterinary and Agricultural University, Copenhagen, and a doctor’s degree in empirical analysis of risk in agriculture. He has been a visiting scholar at University of California, Berkeley, University of New England, Armidale, Australia, and visiting professor at University of Kiel, Germany. He has published internationally within areas like stochastic frontier analysis of productivity changes in agriculture, development of micro-based agricultural sector models, and risk management based on the state-contingent approach to optimizing production under uncertainty.

Reviews

From the book reviews:

“The content of the work is divided into 21 chapters. … All the material is carefully developed, with many examples and figures supporting the concepts discussed here. The notions are well motivated and many additional explanations are given, which makes the book very readable.” (Gabriel Eduard Vîlcu, Mathematical Reviews, February, 2015)


Table of contents (21 chapters)

Buy this book

eBook $79.99
price for USA (gross)
  • ISBN 978-3-642-30200-8
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $109.00
price for USA
  • ISBN 978-3-642-30199-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $109.00
price for USA
  • ISBN 978-3-642-43936-0
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Production Economics
Book Subtitle
The Basic Theory of Production Optimisation
Authors
Series Title
Springer Texts in Business and Economics
Copyright
2013
Publisher
Springer-Verlag Berlin Heidelberg
Copyright Holder
Springer-Verlag Berlin Heidelberg
eBook ISBN
978-3-642-30200-8
DOI
10.1007/978-3-642-30200-8
Hardcover ISBN
978-3-642-30199-5
Softcover ISBN
978-3-642-43936-0
Series ISSN
2192-4333
Edition Number
2
Number of Pages
XII, 292
Topics