Profit Optimization of Cattle Growth with Variable Prices
Autor(a) principal: | |
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Data de Publicação: | 2022 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10174/32462 https://doi.org/Jacinto, G., Filipe, P.A. & Braumann, C.A. Profit Optimization of Cattle Growth with Variable Prices. Methodol Comput Appl Probab 24, 1917–1952 (2022). https://doi.org/10.1007/s11009-021-09889-z https://doi.org/10.1007/s11009-021-09889-z |
Resumo: | We apply a class of stochastic diferential equations to model the growth of individual animals in randomly fuctuating environments using real weight data of males of the Mertolengo cattle breed. The use of these more realistic models can help farmers to optimize their proft. To this end we obtain the probability distribution, the frst two moments and others quantities of interest of the proft obtained by raising and selling an animal under the more general, and more realistic, situation where the raising costs and the price per kg paid to the farmers depends on the animal’s age and weight category. We also present sensitivity results on how the expected proft and the optimal selling age vary with small changes on the estimates of the model parameters. We conclude that farmers are selling the animals a little earlier than the optimal selling age, which results in a lower proft per animal. The sensitivity analysis of the parameters shows that small changes on the parameters result in very small efects on the optimal proft and negligible efects on the optimal selling age. |
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Profit Optimization of Cattle Growth with Variable PricesStochastic diferential equationsCattle growthProft optimizationSensitivity analysisMaximum likelihood estimatorsWe apply a class of stochastic diferential equations to model the growth of individual animals in randomly fuctuating environments using real weight data of males of the Mertolengo cattle breed. The use of these more realistic models can help farmers to optimize their proft. To this end we obtain the probability distribution, the frst two moments and others quantities of interest of the proft obtained by raising and selling an animal under the more general, and more realistic, situation where the raising costs and the price per kg paid to the farmers depends on the animal’s age and weight category. We also present sensitivity results on how the expected proft and the optimal selling age vary with small changes on the estimates of the model parameters. We conclude that farmers are selling the animals a little earlier than the optimal selling age, which results in a lower proft per animal. The sensitivity analysis of the parameters shows that small changes on the parameters result in very small efects on the optimal proft and negligible efects on the optimal selling age.Journal of Methodology and Computing in Applied Probability2022-08-31T10:53:30Z2022-08-312022-09-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttp://hdl.handle.net/10174/32462https://doi.org/Jacinto, G., Filipe, P.A. & Braumann, C.A. Profit Optimization of Cattle Growth with Variable Prices. Methodol Comput Appl Probab 24, 1917–1952 (2022). https://doi.org/10.1007/s11009-021-09889-zhttp://hdl.handle.net/10174/32462https://doi.org/10.1007/s11009-021-09889-zporhttps://link.springer.com/content/pdf/10.1007/s11009-021-09889-z.pdfDepartamento de Matemática, Universidade de Évoragjcj@uevora.ptPatricia.Filipe@iscte-iul.ptbraumann@uevora.pt340Jacinto, GonçaloFilipe, Patrícia A.Braumann, Carlos A.info:eu-repo/semantics/embargoedAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-01-03T19:28:12Zoai:dspace.uevora.pt:10174/32462Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T01:19:47.282634Repositório 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 of Cattle Growth with Variable Prices |
title |
Profit Optimization of Cattle Growth with Variable Prices |
spellingShingle |
Profit Optimization of Cattle Growth with Variable Prices Jacinto, Gonçalo Stochastic diferential equations Cattle growth Proft optimization Sensitivity analysis Maximum likelihood estimators |
title_short |
Profit Optimization of Cattle Growth with Variable Prices |
title_full |
Profit Optimization of Cattle Growth with Variable Prices |
title_fullStr |
Profit Optimization of Cattle Growth with Variable Prices |
title_full_unstemmed |
Profit Optimization of Cattle Growth with Variable Prices |
title_sort |
Profit Optimization of Cattle Growth with Variable Prices |
author |
Jacinto, Gonçalo |
author_facet |
Jacinto, Gonçalo Filipe, Patrícia A. Braumann, Carlos A. |
author_role |
author |
author2 |
Filipe, Patrícia A. Braumann, Carlos A. |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Jacinto, Gonçalo Filipe, Patrícia A. Braumann, Carlos A. |
dc.subject.por.fl_str_mv |
Stochastic diferential equations Cattle growth Proft optimization Sensitivity analysis Maximum likelihood estimators |
topic |
Stochastic diferential equations Cattle growth Proft optimization Sensitivity analysis Maximum likelihood estimators |
description |
We apply a class of stochastic diferential equations to model the growth of individual animals in randomly fuctuating environments using real weight data of males of the Mertolengo cattle breed. The use of these more realistic models can help farmers to optimize their proft. To this end we obtain the probability distribution, the frst two moments and others quantities of interest of the proft obtained by raising and selling an animal under the more general, and more realistic, situation where the raising costs and the price per kg paid to the farmers depends on the animal’s age and weight category. We also present sensitivity results on how the expected proft and the optimal selling age vary with small changes on the estimates of the model parameters. We conclude that farmers are selling the animals a little earlier than the optimal selling age, which results in a lower proft per animal. The sensitivity analysis of the parameters shows that small changes on the parameters result in very small efects on the optimal proft and negligible efects on the optimal selling age. |
publishDate |
2022 |
dc.date.none.fl_str_mv |
2022-08-31T10:53:30Z 2022-08-31 2022-09-01T00:00:00Z |
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/10174/32462 https://doi.org/Jacinto, G., Filipe, P.A. & Braumann, C.A. Profit Optimization of Cattle Growth with Variable Prices. Methodol Comput Appl Probab 24, 1917–1952 (2022). https://doi.org/10.1007/s11009-021-09889-z http://hdl.handle.net/10174/32462 https://doi.org/10.1007/s11009-021-09889-z |
url |
http://hdl.handle.net/10174/32462 https://doi.org/Jacinto, G., Filipe, P.A. & Braumann, C.A. Profit Optimization of Cattle Growth with Variable Prices. Methodol Comput Appl Probab 24, 1917–1952 (2022). https://doi.org/10.1007/s11009-021-09889-z https://doi.org/10.1007/s11009-021-09889-z |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://link.springer.com/content/pdf/10.1007/s11009-021-09889-z.pdf Departamento de Matemática, Universidade de Évora gjcj@uevora.pt Patricia.Filipe@iscte-iul.pt braumann@uevora.pt 340 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/embargoedAccess |
eu_rights_str_mv |
embargoedAccess |
dc.publisher.none.fl_str_mv |
Journal of Methodology and Computing in Applied Probability |
publisher.none.fl_str_mv |
Journal of Methodology and Computing in Applied Probability |
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 |
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1799136679808729088 |