Constructing a Multi-Production Function for Investment in Agricultural Organizations

DOI

10.2991/aebmr.k.210222.091How to use a DOI?

Keywords

innovation, agricultural production, production functions

Abstract

The development of intelligent systems of agricultural management increases the requirements for models that describe the process of agricultural production. To date, there is a need to develop a new class of production functions that describe simultaneous delivery of several types of products by one agricultural organization. The article analyzes the results of various studies devoted to the construction of production functions in relation to the economy, examines the theoretical foundations of constructing a multi-production function, explores various aspects of such work, in particular, the list of available and used economic indicators, the methods used to estimate parameters. Based on the data on organizations of the Nizhny Novgorod region, an algorithm was proposed for constructing a production function that describes the production of grain and potatoes, based on the application of the stochastic gradient method and combining elements of production possibility frontier and the Cobb-Douglas function. The quantity of grain and potato produced (in centners) was used as a dependent indicator, capital (the value of the capacity of fixed assets, in hp), labor (the number of employees) and the number of sown areas of both types of crops were used as independent variables. The author’s approach to measuring errors and the degree of accuracy of the approximation of multi-production functions was proposed. It is concluded that the presented algorithm has prospects for further application, further research prospects are described, and it is noted that multi-production functions can become a more precise tool for identifying agricultural production patterns.

Copyright

© 2021, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - A.D. Cheremukhin
AU  - A.N. Igoshin
AU  - A.V. Fedotov
AU  - O.P. Ivanova
PY  - 2021
DA  - 2021/02/24
TI  - Constructing a Multi-Production Function for Investment in Agricultural Organizations
BT  - Proceedings of International Scientific and Practical Conference “Russia 2020 - a new reality: economy and society” (ISPCR 2020)
PB  - Atlantis Press
SP  - 455
EP  - 459
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.210222.091
DO  - 10.2991/aebmr.k.210222.091
ID  - Cheremukhin2021
ER  -