This paper is concerned with dynamic programming as a tool for studying the process of farm firm growth. Studies of growth are restricted by characteristics of the analytical tools used. Dynamic programming provides a method for including added realism in conceptual and analytical growth models. This paper illustrates the formulation of a firm growth problem in a dynamic programming framework and discusses advantages and disadvantages of such models. The type of results obtained from dynamic programming is contrasted with that normally obtained from dynamic linear programming formulations.
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Arlo J. Minden (1968) studied this question.
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