An Economic Analysis of Genetic Improvement Within a Commercial Livestock Population
This study builds and analyses a dynamic economic model which relates the cost of using a genetically superior sire from outside a base herd to increase the levels of genetic merit of the breeding females and their progeny within that herd. The questions of interest are the optimal length to time over the time horizon to use the genetically superior sire, and with how many females should he be at any different time? If the value of a unit of cost of using the genetically superior sire is small enough then it is optimal to mate him with all the herd for the whole time horizon. At the other extreme, if the unit cost is large enough, then it is not optimal to use him to mate with any females for any time. For other values of unit cost, the optimal solution is either a bang-bang solution, where the sire is mated with all the females for part of the time and then none, or a singular solution which involves mating the sire with a fraction of the female herd after mating him, firstly with all of them, and then finally with none.
|Date of creation:||01 Mar 1993|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +61 2 9514 7777
Fax: +61 2 9514 7711
Web page: http://www.uts.edu.au/about/uts-business-school/finance
More information through EDIRC
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.:
- Kamien, Morton I & Schwartz, Nancy L, 1974. "Product Durability under Monopoly and Competition," Econometrica, Econometric Society, vol. 42(2), pages 289-301, March.
- Harris, Milton, 1976. "Optimal planning under transaction costs: The demand for money and other assets," Journal of Economic Theory, Elsevier, vol. 12(2), pages 298-314, April.
- Leonard, Daniel, 1987. "Co-state variables correctly value stocks at each instant A proof," Journal of Economic Dynamics and Control, Elsevier, vol. 11(1), pages 117-122, March.
- Michael J. Stutzer, 1980. "Chaotic dynamics and bifurcation in a macro model," Staff Report 55, Federal Reserve Bank of Minneapolis.
- repec:cup:cbooks:9780521331586 is not listed on IDEAS
- Stutzer, Michael J., 1980. "Chaotic dynamics and bifurcation in a macro model," Journal of Economic Dynamics and Control, Elsevier, vol. 2(1), pages 353-376, May.
- Seierstad, Atle & Sydsaeter, Knut, 1977. "Sufficient Conditions in Optimal Control Theory," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 18(2), pages 367-91, June.
- repec:cup:cbooks:9780521337465 is not listed on IDEAS
When requesting a correction, please mention this item's handle: RePEc:uts:wpaper:26. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Duncan Ford)
If references are entirely missing, you can add them using this form.