Do Antibiotics Reduce Production Risk for U.S. Pork Producers?
AbstractWe combine econometric and financial analyses of the NAHMS 2000 Swine Survey data to examine whether evidence exists for reducing risk by using antibiotics for growth promotion (AGP) in the U.S. swine industry. A stochastic dominance analysis of alternative lengths of time (days) of AGP application reveals that AGP used in the range of 65â€”75 days is preferred by risk-averse producers. Risk is reduced and profits are increased from use of AGP. The combined impacts of increased average daily gain and decreased variability in pig live weight increase producer profits by $2.99 per pig marketed.
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Bibliographic InfoArticle provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.
Volume (Year): 37 (2005)
Issue (Month): 03 (December)
antibiotics; growth promotion; pigs; risk; stochastic dominance; variability; D21; D61; D81; Q12; R32;
Find related papers by JEL classification:
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
- R32 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Production Analysis, and Firm Location - - - Other Production and Pricing Analysis
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Anderson, Jock R. & Feder, Gershon, 2007. "Agricultural Extension," Handbook of Agricultural Economics, Elsevier.
- David E. Sahn & David C. Stifel, 2002. "Robust Comparisons of Malnutrition in Developing Countries," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(3), pages 716-735.
- Dermot J. Hayes & Helen H. Jensen & Lennart Backstrom, 1999. "Economic Impact of a Ban on the Use of Over-the-Counter Antibiotics," Center for Agricultural and Rural Development (CARD) Publications 99-sr90, Center for Agricultural and Rural Development (CARD) at Iowa State University.
- Lapan, Harvey E. & Moschini, GianCarlo, 1994. "Futures Hedging Under Price, Basis and Production Risk," Staff General Research Papers 10041, Iowa State University, Department of Economics.
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