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ValuetypeDefinition
FOR MODELING PURPOSES
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M_b1Land-specificBest case scenario for positive change in land, caused by laborAssuming there is a best-case productive capacity that is set through policy, could we take a fraction of this difference to represent M_b and M_w. In other words, M_b could represent one quarter of the distance between current productive capacity and maximum productive capacity. This accomplishes the same exponential decay that Joseph's model also uses.
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M_w2Land-specificWorst case scenario for negative change in land, caused by labor
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beta1Land-specificMarginal effect of labor on land
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C_f1Firm-specificCompetency of firm
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Single plot of land, varying firm competency
Single plot of land, varying labor amount
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Start Productive Capacity
C_fL
Δproductive capacity
New Productive Capacity
Start Productive Capacity
C_fL
Δproductive capacity
New Productive Capacity
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10-11-0.92423431459.075765685100.50010
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10-0.81-0.75989792459.240102075100.510.244918662410.24491866
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10-0.61-0.58262522499.417374775100.520.462117157310.46211716
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10-0.41-0.39475064049.60524936100.530.635148952410.63514895
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10-0.21-0.19933598929.800664011100.540.76159415610.76159416
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1001010100.550.8482836410.84828364
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100.210.0996679946210.09966799100.560.905148253610.90514825
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100.410.197375320210.19737532100.570.941375538510.94137554
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100.610.291312612510.29131261100.580.964027580110.96402758
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100.810.379948962310.37994896100.590.978026114710.97802611
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10110.462117157310.46211716100.5100.986614298210.9866143
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Example of proposed M_b
Example of proposed M_w
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Optimal Productive Capacity
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Current Productive Capacity
C_fL
Δproductive capacity
% of best caset
Current Productive Capacity
C_fL
Δproductive capacity
% of worst case
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20010152.470.00%010-15-2.470.00%
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Base year112.47151.8624.67%17.53-15-1.86-24.67%
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10214.32151.4043.25%25.68-15-1.40-43.25%
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Worst Productive Capacity
315.72151.0557.25%34.28-15-1.05-57.25%
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0416.78150.7967.79%43.22-15-0.79-67.79%
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517.57150.6075.74%52.43-15-0.60-75.74%
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618.17150.4581.72%61.83-15-0.45-81.72%
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718.62150.3486.23%71.38-15-0.34-86.23%
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818.96150.2689.63%81.04-15-0.26-89.63%
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C_f -> net competency
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m_w -> negative
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