IDEAS home Printed from https://ideas.repec.org/a/oup/ajagec/v75y1993i1p190-202..html
   My bibliography  Save this article

Decision Rules for the Dynamic Animal Feeding Problem

Author

Listed:
  • Oscar R. Burt

Abstract

Under a criterion of maximum expected present value, dynamic programming is used to derive sequential decision rules that give feed rations as a function of animal weight and indicate the critical weight at which to sell a batch of animals. These rules are adaptable to short-term random changes in prices of inputs and outputs, and typically require solution of a single equation at a given weight. A new stochastic model is introduced that encompasses both the infinite sequence and single batch models found in the literature; the infinite chain of batches is randomly terminated after each batch is marketed.

Suggested Citation

  • Oscar R. Burt, 1993. "Decision Rules for the Dynamic Animal Feeding Problem," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(1), pages 190-202.
    • Handle: RePEc:oup:ajagec:v:75:y:1993:i:1:p:190-202.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.2307/1242967
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Chen, Gang & Roberts, Matthew C., 2004. "A Dynamic Programming Framework For Using Weather Derivatives To Manage Dairy Profit Risk," 2004 Annual meeting, August 1-4, Denver, CO 20171, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Blank, Steven C. & Orloff, Steve B. & Putnam, Daniel H., 2001. "Sequential Stochastic Production Decisions For A Perennial Crop: The Yield/Quality Tradeoff For Alfalfa Hay," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 26(1), pages 1-17, July.
    3. Chao, Hui-Ping, 1998. "Regime Switching In Us Livestock Cycles," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20824, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    4. Roemen, J.H.J. & de Klein, J., 1998. "An optimal delivery strategy for porkers with heterogeneity and dependent prices," Other publications TiSEM 4775b203-6880-43c8-b1c7-3, Tilburg University, School of Economics and Management.
    5. Roemen, J.H.J. & de Klein, J., 1998. "An optimal delivery strategy for porkers with heterogeneity and dependent prices," Research Memorandum FEW 763, Tilburg University, School of Economics and Management.
    6. Robert, Marion & Bergez, Jacques-Eric & Thomas, Alban, 2018. "A stochastic dynamic programming approach to analyze adaptation to climate change – Application to groundwater irrigation in India," European Journal of Operational Research, Elsevier, vol. 265(3), pages 1033-1045.
    7. Niemi, Jarkko K., 2012. "Designing coordination contracts to support efficient flow-scheduling in pork chain," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 125208, Agricultural and Applied Economics Association.
    8. Mariano J. Gonzalez-Alcorta & Jeffrey H. Dorfman & Gene M. Pesti, 1994. "Maximizing profit in broiler production as prices change: A simple approximation with practical value," Agribusiness, John Wiley & Sons, Ltd., vol. 10(5), pages 389-399.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:ajagec:v:75:y:1993:i:1:p:190-202.. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://edirc.repec.org/data/aaeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.