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| Registros recuperados: 57 | |
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| Katsumata, Kentaro; Tauer, Loren W.. |
| This paper empirically estimates cost functions for two milking technologies, stanchion and parlor, using farm level data from New York dairy farms for the years 1993 through 2002. A translog cost function was estimated along with input cost share equations for each milking technology by Iterative Seemingly Unrelated Regression. Any pair of inputs among feed, hired Labor, and cows had some degree of substitutability except for a pair of feed and hired labor evaluated by the Allen elasticity, and that of hired labor and feed evaluated by the Morishima elasticity. Additionally, economies of scale were found to exist over the entire range of output levels of the samples. The cost of stanchion technology was lower than that of parlor technology over the sample... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Livestock Production/Industries. |
| Ano: 2008 |
URL: http://purl.umn.edu/6886 |
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| Tauer, Loren W.; Weersink, Alfons. |
| A model is developed that shows the usefulness of dynamic optimization in deriving optimal equity recovery strategies for a cooperative lending institution. The objective is to minimize the cost of a member borrowing over time. An interest rate surcharge, above the cost of funds and operating cost, is the control variable to be determined. The financial position of the cooperative is described by equity and loan volume, which are the state variables. Applications show how the surcharge, loans, and equity change over time as model parameters are changed. |
| Tipo: Journal Article |
Palavras-chave: Agribusiness; Agricultural Finance. |
| Ano: 1988 |
URL: http://purl.umn.edu/46210 |
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| Tauer, Loren W.. |
| The Dixit entry/exit real option model was applied to the entry/exit decisions of New York dairy farmers. For the cost structure of a 500-cow farm the entry milk price is $17.52 per hundredweight (cwt.) and the exit milk price is $10.84. For the 50-cow farm cost structure the entry price is higher at $23.71 per cwt., and the exit price is also higher at $13.48. If infinite numbers of representative farms enter and exit at these prices, the price of milk should range between $13.48 and $17.52 per cwt. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Dairy farming; Entry-exit; Investment; Real options; Farm Management. |
| Ano: 2006 |
URL: http://purl.umn.edu/21251 |
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| Tauer, Loren W.; Kaiser, Harry M.. |
| A conceptual model is formulated that shows that a downward sloping supply function may exist for a profit maximizing firm facing a cash-flow constraint. The necessary requirement is that at least one factor must be a non-cash input. The model is tested using analysis of variance on two groups of producers from farm record data, one group facing a binding budget constraint the other group not. The results indicate that farms facing a cash flow constraint increase output more than farms not restricted by a cash flow constraint in response to a price decrease. |
| Tipo: Journal Article |
Palavras-chave: Livestock Production/Industries. |
| Ano: 1988 |
URL: http://purl.umn.edu/28844 |
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| Tauer, Loren W.. |
| Buy-sell arrangements for the death of a co-owner may be funded with life insurance. The mechanisms and details of buy-sell arrangements were discussed. The decision whether to use life insurance was modeled using the expected utility theorem. State dependent utility was used since a surviving partner may become more (or less) risk averse upon the death of a co-owner. Life insurance funding is preferred at relatively low amounts of risk aversion, especially if the surviving partner becomes more risk averse after the co-owner's death. A lower percentage of life insurance would be used if insurance premiums are significantly above actuarially fair premiums. Given currently available insurance rates, most closely held small businesses probably should fund... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Risk and Uncertainty. |
| Ano: 1999 |
URL: http://purl.umn.edu/14733 |
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| Tauer, Loren W.; Hanchar, John J.. |
| Monte-Carlo simulation of nonparametric efficiency shows that even when the number of firms is large, defining ten or more inputs results in most firms being measured as efficient. Comparison of the simulated results with any empirical results may suggest that the dimension of the problem, rather than actual efficiencies, determines computed efficiencies. |
| Tipo: Journal Article |
Palavras-chave: Agribusiness. |
| Ano: 1995 |
URL: http://purl.umn.edu/31590 |
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| Tauer, Loren W.. |
| This paper discusses the value to milk producers and consumers of segmenting the milk market into bST-produced milk and non-bST-produced milk markets, versus losing milk consumption from consumers who will not consume bST-produced milk. Results indicate that both bST-using producers and non-bST-using producers benefit from a segmented market when compared to losing milk markets. Even if market loss does not occur, segmenting the market benefits producers not able to effectively use b~T and may even benefit bST users if the use of bST significantly shifts the supply curve for milk. Non-bST consuming consumers benefit from the availability of non-bST milk, and consumers who are indifferent to the use of bST pay about the same price in a segmented market. |
| Tipo: Working Paper |
Palavras-chave: Livestock Production/Industries; Marketing. |
| Ano: 1993 |
URL: http://purl.umn.edu/121326 |
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| Tauer, Loren W.. |
| The productivity of farmers at six different age cohorts was computed by estimating production functions using 1987 census data. The results suggest that farmers of different ages operate with slightly different technologies and use various inputs at different efficiencies. Compared with previous 1978 estimates, the productivity of middleaged farmers appears to be even greater than the productivity of younger and older farmers. The average age of U.S. farmers exceeds the age of highest productivity from these estimates. |
| Tipo: Working Paper |
Palavras-chave: Farm Management; Productivity Analysis. |
| Ano: 1993 |
URL: http://purl.umn.edu/121332 |
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| Registros recuperados: 57 | |
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