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|Title: ||Individual Growth in a Random Environment: an optimization problem|
|Authors: ||Filipe, Patrícia A.|
Braumann, Carlos A.
|Editors: ||Pacheco, António|
Oliveira, Maria do Rosário
Paulino, Carlos Daniel
|Issue Date: ||2014|
|Abstract: ||We consider a class of stochastic differential equations model to describe
individual growth in a random environment. Applying these models to the weight
of mertolengo cattle, we compute the mean profit obtained from selling an animal
to the meat market at different ages and, in particular, determine which is the
optimal selling age. Using first passage time theory we can characterize the time
taken for an animal to achieve a certain weight of market interest for the first time.
In particular, expressions for the mean and standard deviation of these times are
presented and applied to real data. These last results can be used to determine the
optimal selling weight in terms of mean profit.|
|Appears in Collections:||CIMA - Publicações - Capítulos de Livros|
MAT - Publicações - Capítulos de Livros
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