A Bio-economic Dynamic Programming Analysis of the Seasonal Supply Response by Florida Dairy Producers-Reference-Cited by-同舟云学术

A Bio-economic Dynamic Programming Analysis of the Seasonal Supply Response by Florida Dairy Producers

Published:1992-12 Issue:2 Volume:24 Page:211-220
ISSN:1074-0708
Container-title:Journal of Agricultural and Applied Economics
language:en
Short-container-title:J. Agric. Appl. Econ.

Author:

Gao X. M.,Spreen Thomas H.,DeLorenzo Michael A.

Abstract

AbstractSeasonal price premiums have been proposed as a means of dampening the highly seasonal patterns of milk production in Florida. A Markov decision bio-economic model of the breeding and replacement decisions was solved via stochastic dynamic programming and used to analyze the potential supply response to seasonal price premiums. The results of the analysis suggest that the seasonal milk supply in Florida is highly price inelastic.

Publisher

Cambridge University Press (CUP)

Subject

Economics and Econometrics,Agricultural and Biological Sciences (miscellaneous)

Reference26 articles.

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2. Van Arendonk J.A.M. “Optimum Replacement Polices and Their Consequences Determined by Dynamic Programming.” Modeling Livestock Production. CEL - Seminar. April 7-9, 1987, Brussels.

3. A Dynamic Programming Approach to Culling Decisions in Commercial Dairy Herds

4. Optimal Replacement Time of Dairy Cow Determined by A Stochastic Model;Kristensen;Beretning Fra Statens Husdyrbrugsforog,1982

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