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Linear Programming Applied to Cost Minimizing Farm Management Strategies

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  • Thomas A. Miller
  • Charles W. Nauheim

Abstract

This paper illustrates use of minimum cost linear programming techniques with reference to a Great Plains wheat farm. It compares the optimum organization of enterprises developed by minimum cost and profit maximizing strategies of management on the same farm and discusses interrelationships between results of these two models. In general, the minimum cost technique may be used to provide the research worker with knowledge of a wider range of possible outcomes than profit maximizing models used alone and hence may be more useful in a predictive sense than profit maximizing techniques. Application of the minimum cost technique to other problems to which it is especially well suited is also discussed.

Suggested Citation

  • Thomas A. Miller & Charles W. Nauheim, 1964. "Linear Programming Applied to Cost Minimizing Farm Management Strategies," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 46(3), pages 556-566.
    • Handle: RePEc:oup:ajagec:v:46:y:1964:i:3:p:556-566.
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    File URL: http://hdl.handle.net/10.2307/1236439
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    Cited by:

    1. Spielman, Kimberly & Whipple, Glen & McLemore, Dan, 1982. "Estimation Of A Long Run Average Cost Curve Using A Frontier Function: An Application To The Tennessee Livestock Auction Market Industry," 1982 Annual Meeting, August 1-4, Logan, Utah 279185, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Powell, Roy A. & Hardaker, J. Brian, 1969. "Recent Developments in Farm Planning: Sub-Optimal Programming Methods for Practical Farm Planning," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 37(02), pages 1-9, June.

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