Abstract
Different approach on commodity production systems was made by Meadow in 1970 in which he developed a simulation model based on System dynamics.
The apparently successful application of system dynamics to the hog cycle phenomenon prompted the author to investigate problem in control theory terms, since system dynamics is essentially an offshoot of control theory.
In this paper a continuous time model based on classical control theory is considered to the hog cycle system. The model as presented here does not take into consideration of seasonal variation of production and so, as it stands, applies only to those commodities which are laigely unaffected by the season and whose production is governed mainly by price.
The following were mainly discussed on the model presented here.
1) Hog cycle as a limit cycle oscillation, including the observation of transient and frequency response to the price fluctuation due to the demand.
2) Stabilization of the system.
3) Applications to other commodities.
