This three-volume handbook includes state-of-the-art surveys in different areas of neoclassical production economics. Volumes 1 and 2 cover theoretical and methodological issues only. Volume 3 includes surveys of empirical applications in different areas like manufacturing, agriculture, banking, energy and environment, and so forth.
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.
Production economics is that branch of microeconomics that examines producer decisions. This book focuses on the empirical estimation of these relationships using primal, dual, and differential specifications. The primal specification models production decisions based on the production function — estimation of the input/output relationship and the derivation of optimization behavior from this technical relationship. The dual approach estimates production decisions using economic information such as input and output prices. The textbook then develops the linkages between these relationships. The differential specification is an alternative approach derived from changes in the first-order conditions from cost minimizing behavior. In each case, the theoretical development is followed by different empirical specifications that can be used to estimate the producer's choice.
The Handbook is a comprehensive research reference that is essential for anyone interested in conducting research in supply chain. Unique features include: -A focus on the intersection of quantitative supply chain analysis and E-Business, -Unlike other edited volumes in the supply chain area, this is a handbook rather than a collection of research papers. Each chapter was written by one or more leading researchers in the area. These authors were invited on the basis of their scholarly expertise and unique insights in a particular sub-area, -As much attention is given to looking back as to looking forward. Most chapters discuss at length future research needs and research directions from both theoretical and practical perspectives, -Most chapters describe in detail the quantitative models used for analysis and the theoretical underpinnings; many examples and case studies are provided to demonstrate how the models and the theoretical insights are relevant to real situations, -Coverage of most state-of-the-art business practices in supply chain management.
The realization of a successful product requires collaboration between developers and producers, taking account of stakeholder value, reinforcing the contribution of industry to society and enhancing the wellbeing of workers while respecting planetary boundaries. Founded in 2006, the Swedish Production Academy (SPA) aims to drive and develop production research and education and to increase cooperation within the production area. This book presents the proceedings of the 10th Swedish Production Symposium (SPS2022), held in Skövde, Sweden, from 26-29 April 2022. The overall theme of the symposium was ‘Industry 5.0 Transformation – Towards a Sustainable, Human-Centric, and Resilient Production’. Since its inception in 2007, the purpose of SPS has been to facilitate an event at which members and interested participants from industry and academia can meet to exchange ideas. The 69 papers accepted for presentation here are grouped into ten sections: resource-efficient production; flexible production; humans in the production system; circular production systems and maintenance; integrated product and production development; industrial optimization and decision-making; cyber-physical production systems and digital twins; innovative production processes and additive manufacturing; smart and resilient supply chains; and linking research and education. Also included are three sections covering the Special Sessions at SPS2022: artificial intelligence and industrial analytics in industry 4.0; development of resilient and sustainable production systems; and boundary crossing and boundary objects in product and production development. The book will be of interest to all those involved in the development and production of future products.
New, Now, Next. Consumers' ever growing appetite to acquire new products and their short courtship with them has kept manufacturers busy not only expending resources at an alarming rate, but also depleting these resources and giving rise to waste and pollution at a correspondingly increasing and disturbing rate. Traditional manufacturing methods th