论文信息 - The Effects of Discounting Profits in the Presence of Learning in the Optimization of Production Rates

The Effects of Discounting Profits in the Presence of Learning in the Optimization of Production Rates

Abstract When production involves learning, so that the rate of cash flow depends on cumulative production as well as on the rate of production, then the maximization of total program profit can be a Calculus of Variations problem. This paper explores some characteristics of optimal production schedules in such circumstances, and presents an application to a problem in aircraft production.

A. Washburn

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