Profit optimization for cattle growing in a randomly fluctuating environment
Autor(a) principal: | |
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Data de Publicação: | 2014 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10174/11881 https://doi.org/10.1080/02331934.2014.974598 |
Resumo: | A class of stochastic differential equation models was applied to describe the evolution of the weight of Mertolengo cattle. We have determined the optimal mean profit obtained by selling an animal at the cattle market, using two approaches. One consists in determining the optimal selling age (independently of the weight) and the other consists in selling the animal when a fixed optimal weight is achieved for the first time (independently of the age). The profit probability distribution can be computed for such optimal age/weight. For typical market values, we observed that the second approach achieves a higher optimal mean profit compared with the first one, and, in most cases, even provides a lower standard deviation. |
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Profit optimization for cattle growing in a randomly fluctuating environmentstochastic differential equationscattle growthprofit optimizationprobability density functionsA class of stochastic differential equation models was applied to describe the evolution of the weight of Mertolengo cattle. We have determined the optimal mean profit obtained by selling an animal at the cattle market, using two approaches. One consists in determining the optimal selling age (independently of the weight) and the other consists in selling the animal when a fixed optimal weight is achieved for the first time (independently of the age). The profit probability distribution can be computed for such optimal age/weight. For typical market values, we observed that the second approach achieves a higher optimal mean profit compared with the first one, and, in most cases, even provides a lower standard deviation.Taylor & Francis2014-11-26T16:44:56Z2014-11-262015-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttp://hdl.handle.net/10174/11881http://hdl.handle.net/10174/11881https://doi.org/10.1080/02331934.2014.974598engFilipe, Patrícia A.; Braumann, Carlos A.; Carlos, Clara (2015). Profit optimization for cattle growing in a randomly fluctuating environment. Optimization 64(6): 1393-1407. doi: 10.1080/02331934.2014.974598OptimizationOptimizationCentro de Investigação em Matemática e Aplicaçõespasf@uevora.ptbraumann@uevora.ptClara.Carlos@estbarreiro.ips.pt340Filipe, Patrícia A.Braumann, Carlos A.Carlos, Clarainfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-01-03T18:56:03Zoai:dspace.uevora.pt:10174/11881Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T01:05:34.840163Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Profit optimization for cattle growing in a randomly fluctuating environment |
title |
Profit optimization for cattle growing in a randomly fluctuating environment |
spellingShingle |
Profit optimization for cattle growing in a randomly fluctuating environment Filipe, Patrícia A. stochastic differential equations cattle growth profit optimization probability density functions |
title_short |
Profit optimization for cattle growing in a randomly fluctuating environment |
title_full |
Profit optimization for cattle growing in a randomly fluctuating environment |
title_fullStr |
Profit optimization for cattle growing in a randomly fluctuating environment |
title_full_unstemmed |
Profit optimization for cattle growing in a randomly fluctuating environment |
title_sort |
Profit optimization for cattle growing in a randomly fluctuating environment |
author |
Filipe, Patrícia A. |
author_facet |
Filipe, Patrícia A. Braumann, Carlos A. Carlos, Clara |
author_role |
author |
author2 |
Braumann, Carlos A. Carlos, Clara |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Filipe, Patrícia A. Braumann, Carlos A. Carlos, Clara |
dc.subject.por.fl_str_mv |
stochastic differential equations cattle growth profit optimization probability density functions |
topic |
stochastic differential equations cattle growth profit optimization probability density functions |
description |
A class of stochastic differential equation models was applied to describe the evolution of the weight of Mertolengo cattle. We have determined the optimal mean profit obtained by selling an animal at the cattle market, using two approaches. One consists in determining the optimal selling age (independently of the weight) and the other consists in selling the animal when a fixed optimal weight is achieved for the first time (independently of the age). The profit probability distribution can be computed for such optimal age/weight. For typical market values, we observed that the second approach achieves a higher optimal mean profit compared with the first one, and, in most cases, even provides a lower standard deviation. |
publishDate |
2014 |
dc.date.none.fl_str_mv |
2014-11-26T16:44:56Z 2014-11-26 2015-01-01T00:00:00Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10174/11881 http://hdl.handle.net/10174/11881 https://doi.org/10.1080/02331934.2014.974598 |
url |
http://hdl.handle.net/10174/11881 https://doi.org/10.1080/02331934.2014.974598 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Filipe, Patrícia A.; Braumann, Carlos A.; Carlos, Clara (2015). Profit optimization for cattle growing in a randomly fluctuating environment. Optimization 64(6): 1393-1407. doi: 10.1080/02331934.2014.974598 Optimization Optimization Centro de Investigação em Matemática e Aplicações pasf@uevora.pt braumann@uevora.pt Clara.Carlos@estbarreiro.ips.pt 340 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.publisher.none.fl_str_mv |
Taylor & Francis |
publisher.none.fl_str_mv |
Taylor & Francis |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
|
_version_ |
1799136540800057344 |