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Optimal Dairy Policy with Bovine Somatotropin

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  • Loren W. Tauer
  • Harry M. Kaiser

Abstract

A control model of the U.S. dairy sector was constructed to determine optimal policy when bovine somatotropin is released. Social welfare, defined as consumer plus producer surplus minus adjustment and net government costs, was maximized. Control variables were the milk support price and government purchases of cows. Compared to previous simulation research where government policy and adoption are modeled exogenously, the results show that decreases in milk prices and farm profits are not as severe.

Suggested Citation

  • Loren W. Tauer & Harry M. Kaiser, 1991. "Optimal Dairy Policy with Bovine Somatotropin," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 13(1), pages 1-17.
    • Handle: RePEc:oup:revage:v:13:y:1991:i:1:p:1-17.
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    File URL: http://hdl.handle.net/10.2307/1349554
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    Cited by:

    1. Caswell, Margriet F. & Fuglie, Keith O. & Klotz, Cassandra A., 1994. "Agricultural Biotechnology: An Economic Perspective," Agricultural Economic Reports 262025, United States Department of Agriculture, Economic Research Service.
    2. Tanjuakio, Rodolfo V. & Gempesaw, Conrado M., II & Elterich, Joachim G., 1992. "An Optimal Control Framework For Inter - Regional Dairy Policy Analysis," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 24(2), pages 1-11, December.
    3. Nubern, Chris A. & Purcell, Wayne D., 1997. "Competitiveness of Dairy Producers in a Deregulated Market," Staff Papers 232553, Virginia Polytechnic Institute and State University, Department of Agricultural and Applied Economics.
    4. Kanter, Christopher & Messer, Kent D. & Kaiser, Harry M., 2008. "Do rBST-Free and Organic Milk Stigmatize Conventionally Produced Milk?," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 43491, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. Kaiser, Harry M., 1992. "Market Impacts Of Bovine Somatropin: A Supply And Demand Analysis," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 24(1), pages 271-282, July.
    6. Tauer, Loren W. & Kaiser, Harry M., 1989. "Optimal Government Policy In Response To Bovine Somatotropin," 1989 Annual Meeting, July 30-August 2, Baton Rouge, Louisiana 270658, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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