'One size fits all'? Ð The relationship between the value of genetic traits and the farm system
AbstractThe wide use of artificial insemination by dairy farmers has facilitated the development of a multi-billion dollar international market in animal genetics. In the major western dairy producing nations, each country has developed a single index to rank bulls, based on the value of traits they are expected to pass on to their offspring. One of the assumptions behind these indexes is that there is a positive linear relationship between profit (and welfare) with increases in a particular trait, regardless of the farm system. In this paper, it is shown, with examples, that the assumption of linearity is false. More importantly, it is shown that for a combination of reasons, including risk aversion, constraints and other issues, the optimal direction of genetic improvement for New Zealand dairy farmers on an individual and industry level could be quite different. Alternatives to the Òone size fits allÓ index are described.
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Bibliographic InfoPaper provided by Risk and Sustainable Management Group, University of Queensland in its series Murray-Darling Program Working Papers with number WP1M06.
Date of creation: Feb 2006
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Find related papers by JEL classification:
- O32 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- Q16 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - R&D; Agricultural Technology; Biofuels; Agricultural Extension Services
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- Hattam, Caroline, 2006. "Modelling Agricultural Systems: Applications to Livestock Breeding," Working Papers 45872, Scotland's Rural College (formerly Scottish Agricultural College), Land Economy & Environment Research Group.
- Hattam, Caroline, 2006. "Modelling Agricultural Systems: Applications to Livestock Breeding," Working Papers 45872, Scottish Agricultural College, Land Economy Research Group.
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