Modeling Dynamic Agricultural Production Response: The Case of Swine Production
AbstractCrop and livestock production processes are typically dynamic and involve growing biological assets which are eventually marketed. This study presents a production model of biological growth based on a differential equation specification. Economic implications for optimal input use and optimal replacement policy are discussed in this context. The approach is applied to the growing-finishing phase of a swine production enterprise. The results demonstrate that the knowledge of the growth function is crucial in evaluating dynamic production decisions.
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Bibliographic InfoPaper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 10631.
Date of creation: 01 Aug 1985
Date of revision:
Publication status: Published in American Journal of Agricultural Economics, August 1985, vol. 67 no. 3
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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
Web page: http://www.econ.iastate.edu
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