A Process Analysis Model of the U.S. Steel Industry
In this paper a process analysis model of production in the U.S. Steel Industry is developed and tested. A technology matrix, which represents recent industry input-output structure, is estimated using engineering and metallurgical information. This matrix together with detailed cost, sales and resource capacity data is then used in a linear programming model of short-run resource allocation for the industry as a whole. Linear programming solutions are obtained and compared with available industry statistics for each year in the period 1955-1968. Theil's U statistic is computed to indicate how well the model performs. We conclude that it performs "fairly well" and that it should prove useful in various economic applications.
Year of publication: |
1971
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Authors: | Tsao, C. S. ; Day, R. H. |
Published in: |
Management Science. - Institute for Operations Research and the Management Sciences - INFORMS, ISSN 0025-1909. - Vol. 17.1971, 10, p. 588-588
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Publisher: |
Institute for Operations Research and the Management Sciences - INFORMS |
Saved in:
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