• Journal of applied mathematics & informatics
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• v.36 no.3_4
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• pp.301-306
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• 2018

I obtain the optimal portfolio and consumption strategies of an investor who have a Cobb-Douglas utility function. And I assume that there is negative wealth constraints. This constraints mean that the investor can borrow partially against her future labor income.

• The Journal of Fisheries Business Administration
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• v.53 no.1
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• pp.1-16
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• 2022

This paper aims to propose a new systematic approach to analyze the factor productivity and to investigate those characteristics of factor productivity in operational and managerial perspectives. The Cobb-Douglas production function is adopted to estimate the labor and capital productivity. In estimating those productivities the data of The Research on the Actual Condition of Coastal Fisheries (RACF), especially those of Jeon-Nam Province are used. The statistical analysis of RACF data shows that the characteristics are a little bit different between labor and capital of the operational equipment in the coastal fisheries. The Cobb-Douglas type production function is useful in estimating the factor productivity, especially in case of 'coastal Stow-net fishery' even though the limited data is used. However, in case of 'trap fishery,' the Cobb-Douglas production function appears to have some limitations in estimation. This implies that estimating the factor productivities in fisheries employing broad perspectives and various methods are needed.

• The Journal of Fisheries Business Administration
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• v.25 no.2
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• pp.47-58
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• 1994

This paper tries to estimate cost and profit functions under Cobb - Douglas production technology in the coastal fishing, using duality theory of production technology and cost function. Therefore this paper estimates in advance the production functions with two input variables, the number of working persons per tonage(WEMP) and the number of fishing equipment per tonage(WEQU). Then this paper estimates profit function and implicit cost function using the estimated coefficients from production functions. The results of this study show that the annual average profit pertonage of long bag set fishing and trap fishing amount to 4.1 million won and 3.9 million won respectively.

• The Journal of Fisheries Business Administration
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• v.51 no.1
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• pp.19-36
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• 2020

The purpose of this paper is to analyze the productivity of the costal fisheries in Jeonnam Province. In this study, the operational characteristics and Cobb-Douglas production function of coastal fisheries were examined based on a research on the actual condition of costal fisheries (RACF). The statistical analysis of RACF data reveals that Cobb-Douglas production function consists of the three variables: fishing quantity per ton-age, the number of fisherman per ton-age and fishing equipment cost per ton-age. The results of this study show us that the relation and productivity between labor and capital of the operational equipment in the coastal fisheries. If extensive comparable biological and market data become available, analysis model can be widely applied to yield more accurate results.

• Journal of Wetlands Research
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• v.20 no.2
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• pp.190-200
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• 2018

This study estimated the marginal production value based on the production function approach to confirm the economic value of industrial water supply projects. For this, we analyzed 4 data sets classified by 11 industry types according to Cobb-Douglas Function, Translog Function, and Translog function with sector dummy variables. As a result, the average industrial marginal product value of the entire industry was 3,217~5,357 won/ton, 2,994~4,569 won/ton and 3,620~5,342 won/ton, respectively. The results by industry type were the largest in furniture and other manufacturing industries and showed the lowest marginal production value in the textile and leather industries. Overall, the results from the Cobb-Douglas function were highly evaluated. And the volatility according to data sets was also analyzed in the Cobb-Douglas function. There have been few studies on the economic value of industrial water compared to domestic water. It is considered that multidisciplinary consensus will be needed through active research in the future.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.853-861
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• 2020

The study aims to measure the productivity of the Saudi banking sector at the retail level using secondary data for 11 local banks from the period 2015-2019. The study uses an extended version of the Cobb-Douglas production function to account for the fact that as banks openup more retail branches, they will need to employ more labor. The extended Cobb-Douglas production function was estimated using the two-way fixed effect model to account for unobserved heterogeneity across Saudi banks resulting from differences in labor competencies and leadership style. Besides, the model accounts for unobserved heterogeneity among Saudi banks due to the advancement in electronic services over time. The results showed that labor, branches, customers' deposits, and fixed deposits have a positive effect on the total value of generated loans. Conversely, ATM has an insignificant effect on generated loans. The average scale elasticity shows that the Saudi banks at the retail level are operating under decreasing returns to scale. The average marginal rate of technical substitution shows that Saudi banks need at least one ATM to replace one unit of labor at the retail level while keeping the same level of output.

• The Journal of Fisheries Business Administration
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• v.24 no.2
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• pp.69-82
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• 1993

The purpose of this paper is to estimate production function in the coastal fishing, especially long bag set net fishing and trap fishing using Cobb-Douglas production function with the three main variables: fishing quantity per tonage(WQFP), the number of working persons per tonage(WEMP), and the number of utilized fishing equipments per tonage(WEQU). The statistical results of such estimation reveal that fishing quantity per tonage can be expressed as a function of the number of working persons per tonage and the number of utilized fishing equipments per tonage. The estimated coefficients of WEMP and WEQU are statistically significant and also satisfy the requirements of Cobb-Douglas production function. This study also estimates marginal rate of technical substitution of labor in terms of capital (MRT $S_{LK}$ )in each long bag set net fishing and trap fishing. The resuits of this study show us that trap fishing has the technical characteristic of constant returns to scale(CRS) but long bag net fishing has that of decreassing returns to scale(DRS).

• Journal of Korean Society of Industrial and Systems Engineering
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• v.3 no.3
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• pp.59-66
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• 1980

The purpose of this paper to study on measuring method in technical progress. Technology is combination method of raw material and capital, land, labour. The first step to technical Progress is COBB-DOUGLAS production function, so technical progresses are important role in economic growth and development. General production function from Y=f(K, L, T) and COBB-DOUGLAS production function Y=${AK^I}{L^b}$ is first condition. Technical progress is saving of production factor In capital saving, labour saving, neutral saving. Marred Hicks Robinson has Insist on technical progress by each view of production factor, but, what is most excellent measuring method of technical progress\ulcorner I : productivity index method. II : Gross Production function method. Productivity method used in every products level in weight values, gross method function method used in production factor attributed to products. Above two measuring method has delicate problem in each input factor, substitution relation and production factor simultaneously linked each others This basic problem based on technical progress is not solubable in this time.

• Environmental and Resource Economics Review
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• v.28 no.3
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• pp.415-435
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• 2019

The purpose of this study is to analyze the returns to scale by estimating the bigeye tuna production function of Korean distant longline fisheries in WCFPC waters. In the analysis, number of crews, vessel tonnage, number of hooks, and bigeye tuna biomass are used as input variables and the catch amount of bigeye tuna is used as an output variable in the Cobb-Douglas production function. Prior to the function estimation, the biomass of bigeye tuna was estimated by the Bayesian state-space model. Results showed that the fixed effect model was selected based on the hausman test, and vessel tonnage, hooks, and biomass would have direct effects on the catch amount. In addition, it was shown that the bigeye tuna distant longline fisheries in WCFPC water would have increasing returns to scale.

• Journal of Korean Society for Quality Management
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• v.50 no.1
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• pp.125-138
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• 2022

Purpose: Failure Mode and Effect Analysis (FMEA) is a widely utilized technique to measure product reliability by identifying potential failure modes. Even though FMEA techniques have been studied, the form of Risk Priority Number (RPN) used to evaluate risk priority in FMEA is still questionable because of its shortcomings. In this study, we suggest common RPN(cRPN) to resolve shortcomings of the traditional RPN and show the extensibility of cRPN. Methods: We suggest cRPN which is based on Cobb-Douglas production function, and represent the various application on weighting risk factors, weighted RPN in a mathematical way, and show the possibility of statistical approach. We also conduct numerical study to examine the difference of the traditional RPN and cRPN as well as the potential application from the analysis on marginal effects of each risk factor. Results: cRPN successfully integrates previously suggested approaches especially on the relative importance of risk factors and weighting RPN. Moreover, we analyze the effect of corrective actions in terms of econometric analysis using cRPN. Since cRPN is rely on the reliable mathematical model, there would be numerous applications using cRPN such as smart factory based on A.I. techniques. Conclusion: We propose a reliable mathematical model of RPN based on Cobb-Douglas production function. Our suggested model, cRPN, resolves various shortcomings such as consideration of the relative importance, the effect of combinations among risk factors. In addition, by adopting a reliable mathematical model, quantitative approaches are expected to be applied using cRPN. We find that cRPN can be utilized to the field of industry because it is able to be applied without modifying the entire systems or the conventional actions.