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| Registros recuperados: 57 | |
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| Tauer, Loren W.. |
| Milk supply elasticities were estimated for 70 farms who participated in the New York Dairy Farm Business Summary Program from 1985 through 1993. Technology was modeled as a single output, single composite input Cobb-Douglas function. The resultant supply function is the natural log of milk quantity as a function of the log of milk price to prices paid for all inputs, with a time trend added. Since random output shocks to each farm may have occurred in any of the nine data years, a dummy year variable was modeled sequentially for each year for each farm. Ignoring 12 negative estimates, elasticities averaged .65. Pooling the data with a fixed effects model produced an elasticity estimate of .47. A geometric lag pooled model produced a short-run elasticity... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Livestock Production/Industries. |
| Ano: 1998 |
URL: http://purl.umn.edu/14745 |
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| Kauffman, Jonas B. III; Tauer, Loren W.. |
| First-degree and second-degree stochastic dominance were used to separate a panel of 112 dairy farms with ten annual observations per farm into successful and less successful groups using four different performance measures. Logit regression using 16 independent variables was then used to determine important farm characteristics leading to farm success. High milk production and controlling hired labor and purchased feed expenses were important. The selective adoption of new technologies was also important. Optimal debt-asset ratios varied over the 10-year period. |
| Tipo: Journal Article |
Palavras-chave: Livestock Production/Industries. |
| Ano: 1986 |
URL: http://purl.umn.edu/29046 |
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| Tauer, Loren W.; Belbase, Krishna P.. |
| The technical efficiencies of New York dairy farms were estimated using a frontier production function. The average farm was 69 percent efficient. Individual farm efficiency was regressed on variables not considered inputs to explain why a farm was not on the frontier. Favorable location in the state and larger size (cows) as proxies for technology lead to greater efficiency. Participation in the Dairy Herd Improvement Cooperative and use of mail-in computerized records as proxies for management result in a reduction in efficiency. However, only 9 percent of variation in farm efficiency could be explained. |
| Tipo: Journal Article |
Palavras-chave: Livestock Production/Industries; Productivity Analysis. |
| Ano: 1987 |
URL: http://purl.umn.edu/28894 |
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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: Working or Discussion Paper |
Palavras-chave: Milking Costs; Stanchion; Parlor; New York Dairy Farms; Farm Management; Financial Economics. |
| Ano: 2008 |
URL: http://purl.umn.edu/51129 |
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| Lyson, Thomas A.; Tauer, Loren W.; Welsh, Rick. |
| A population of 50 dairy farms in Upstate New York was surveyed in 1993 to collect data on the organizational and structural characteristics of their farm businesses and households, including information about their attitudes towards rBST. In the fall of 1994, six months after rBST was approved for general use, this same population of farmers was resurveyed. Findings show that in 1994 one-half of the farmers were using rBST or planned to use it within one year. Compared to non-adopters, farmers who adopted rBST were generally larger, used more advanced dairy technologies, and reported higher production herd averages. Differences in attitudes and goals were also observed. Implications of rBST for the future organizational structure of New York dairies are... |
| Tipo: Working Paper |
Palavras-chave: Livestock Production/Industries. |
| Ano: 1995 |
URL: http://purl.umn.edu/121200 |
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| Schmit, Todd M.; Chang, Hung-Hao; Boisvert, Richard N.; Tauer, Loren W.. |
| The major sources of variability in net farm income on New York dairy farms over the past 10 years are identified using Dairy Farm Business Summary records. The most important source of income variability is the fluctuation in milk prices, followed closely by year-to-year variation in the quantity of purchased feeds. These results suggest that forward pricing of milk and feed purchases may be effective risk reduction strategies. Since a few farms have large cull cow sales, probably due to disease or other production problems, new insurance products to insure against disease may be useful to dairy farmers. It appears that older farmers are more successful in engaging in activities that increase diversification and reduce the variability in reductions in... |
| Tipo: Working Paper |
Palavras-chave: Livestock Production/Industries; Risk and Uncertainty. |
| Ano: 2007 |
URL: http://purl.umn.edu/121879 |
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| Tauer, Loren W.. |
| Recent developments in investment analysis and their relevancy in agricultural investment assessment are discussed. The Net Present Value model can be modified to incorporate the value of strategic management of an investment into the initial evaluation of that investment. Since these decisions can be modeled as call and put options, the mathematics of financial options has been applied to these investment decisions, and referred to as real options analysis. It is shown how contingent claims analysis can be used to value these real options. Contingent claims analysis uses a risk-free discount rate, since risk is incorporated into option valuation using computed risk-neutral probabilities obtained from a replicating portfolio correlated to the discounted... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agricultural Finance. |
| Ano: 2000 |
URL: http://purl.umn.edu/14763 |
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| Tauer, Loren W.; Boehlje, Michael. |
| This article discusses the application of a quadratic programming model to the bond and note participation decision of a Cooperative Farm Credit Bank. The model generates an efficient frontier of bond and note portfolios from which a bank can choose. The composition of these portfolios depends upon the expected cost and variance-covariance of cost for the bond and note activities, debt needs, and the debt policy constraints of a bank. The results indicate that the interest rate risk of various bond and note issues should be considered when making debt participation decisions. |
| Tipo: Journal Article |
Palavras-chave: Agricultural Finance. |
| Ano: 1981 |
URL: http://purl.umn.edu/32581 |
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| Registros recuperados: 57 | |
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