| Abstract: | ABSTRACT: In the past, researchers have applied a variety of analytical techniques for maximizing the present value of a stock resource - simulation, calculus of variations, stochastic dynamic programming, and optimal control theory. This paper presents a more operational approach - linear programming. A simplified, broadly drawn example from Southwest agriculture is used for demonstrating the model's structure and output. The method is based on a set of state transformation operations that prevent the additivity assumption of linear programming from being violated. |
