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| Powell, Alan A.; Polasek, Metodey; Burley, Harry T.. |
| Conventional growth curves, such as the logistic and Gompertz, though both useful and successful as descriptive measures, lack economic substance. Where a new product is developed expressly to compete with an existing close substitute, any economist might reasonably expect the relative prices of the two goods to be relevant to the rate at which the innovation is adopted. Yet growth curves of the class mentioned above are functions of time only. In this paper we attempt to allow for the influence of price. The logistic law of growth remains basic to the pattern of adoption in our model. However, it is assumed that relative prices can both accelerate the rate of adoption, and affect the long-run share of the market enjoyed by the new product. (We shall use... |
| Tipo: Journal Article |
Palavras-chave: Research and Development/Tech Change/Emerging Technologies. |
| Ano: 1963 |
URL: http://purl.umn.edu/22950 |
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| Dillon, John L.; Burley, Harry T.. |
| Some notes prove something ; others disprove something. This one does neither. It merely sketches a simple model of the grazing complex. Of itself, the model is no more than an attempt to specify the more important economic relationships of the grazing complex in an explicit, orderly fashion. Although of undoubted importance, these relationships so far appear to have received little attention. Despite its naivete, the model establishes the virtual impossibility of estimating the parameters ideally needed to specify a profit maximizing system of grazing, even if we assume away climatic and price uncertainty, and the diversity of pasture types, history and location. On the positive side, the model suggests a framework for assessing grazing experiments in... |
| Tipo: Journal Article |
Palavras-chave: Livestock Production/Industries. |
| Ano: 1961 |
URL: http://purl.umn.edu/22831 |
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