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Registros recuperados: 57
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THE IMPACT OF RECOMBINANT BOVINE SOMATOTROPIN ON DAIRY FARM PROFITS: A SWITCHING REGRESSION ANALYSIS AgEcon
Tauer, Loren W..
Production and profit impacts from the use of recombinant Bovine Somatotropin (rbST) on dairy farms were estimated using switching regression, with separate regressions for rbST-using farms and non-rbST-using farms. To correct for potential self-selection bias, a probit adoption function was estimated and used to correct the error term in each regression equation. Farmers who use rbST were found to have more formal education and have larger dairy herds, but age was not a significant determining factor in adoption. RbST was estimated to increase milk production per cow even when correcting for the fact that rbST users would have higher milk production per cow without the use of rbST. However, that greater production per cow from rbST use did not...
Tipo: Conference Paper or Presentation Palavras-chave: Farm Management.
Ano: 2004 URL: http://purl.umn.edu/20411
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How Diversified Is Your State's Agriculture AgEcon
Tauer, Loren W..
Each state's agricultural production diversification is measured for 1984 and 1988. Very little difference existed between the type of index used or the year computed. Linear regressions of the coefficient of variation of receipts on diversification measures implies diversification among states have no impact on variability of receipts.
Tipo: Working Paper Palavras-chave: Farm Management; Industrial Organization.
Ano: 1990 URL: http://purl.umn.edu/121537
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Ex-ante Economic Assessment of Agriculture Biotechnology AgEcon
Tauer, Loren W..
Tipo: Working Paper Palavras-chave: Research and Development/Tech Change/Emerging Technologies.
Ano: 1990 URL: http://purl.umn.edu/121528
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DETERMINING THE OPTIMAL AMOUNT OF NITROGEN TO APPLY TO CORN USING THE BOX-COX FUNCTIONAL FORM AgEcon
Tauer, Loren W..
A Box-Cox functional form was estimated from corn-nitrogen data previously used to report optimal nitrogen use from a quadratic production function. Results suggest that less nitrogen should be app1ie.d than recommended using the quadratic function, but with more nitrogen being applied if poor growing conditions are expected.
Tipo: Working or Discussion Paper Palavras-chave: Crop Production/Industries.
Ano: 2000 URL: http://purl.umn.edu/7227
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SUCCESSFUL DAIRY FARM MANAGEMENT STRATEGIES INDENTIFIED BY STOCHASTIC DOMINANCE ANALYSES OF FARM RECORDS AgEcon
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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Age and Farmer Productivity AgEcon
Tauer, Loren W..
Farmer productivity by age was estimated, allowing for differences because of efficiency and returns to scale. Using Census of Agriculture data, estimates vary by state, but returns to scale average 1.07. Efficiency increases average 4.5 percent every ten years of age, to the age interval 35 to 44, and then decreases at that same rate.
Tipo: Working Paper Palavras-chave: Farm Management; Labor and Human Capital; Productivity Analysis.
Ano: 1994 URL: http://purl.umn.edu/121316
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A DEBT SELECTION MODEL FOR BANKS OF THE COOPERATIVE FARM CREDIT SYSTEM AgEcon
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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Ethanol Plant Investment using Net Present Value and Real Options Analyses AgEcon
Schmit, Todd M.; Luo, Jianchuan; Tauer, Loren W..
A real option analysis of dry-grind corn ethanol plants compared to a standard net present value analysis (NPV) shows that the option values increase entry prices and lower exit prices of investment and disinvestment considerably. For a large plant, the gross margin of ethanol price over the corn price for a gallon of ethanol using NPV shows that entry will occur with a $0.45 margin and shutdown will occur at a $0.38. Under a real options framework, the margins for entry and exit become $1.33 and $0.13, respectively. Under baseline conditions, a large operating plant would become mothballed at $0.18 and reactivate if margins rebounded to $0.66. Growth in the variability of ethanol margins will delay new plant investments, as well as exits of currently...
Tipo: Working or Discussion Paper Palavras-chave: Ethanol; Net Present Value; Real Options Analyses; Environmental Economics and Policy; Financial Economics; Production Economics; Resource /Energy Economics and Policy; D21; D81; Q4.
Ano: 2008 URL: http://purl.umn.edu/51145
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Estimating Risk-Adjusted Interest Rates for Dairy Farms AgEcon
Tauer, Loren W..
Tipo: Working Paper Palavras-chave: Agricultural Finance; Livestock Production/Industries; Risk and Uncertainty.
Ano: 2000 URL: http://purl.umn.edu/121149
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THE ECONOMIC IMPACT OF BGH ON THE NEW YORK STATE DAIRY SECTOR: COMPARATIVE STATIC RESULTS AgEcon
Magrath, William B.; Tauer, Loren W..
The price and quantity effects of a forthcoming biotechnology product, bovine growth hormone (bGH), are explored in a simple partial equilibrium model. The model is based on previous theoretical work on technological change but is developed in terms of a sector output. A particular output curve is estimated using data from a random sample of New York State dairy farms. Information on the farm level production effects of bGH is used to shift the output curve and to solve for equilibrium levels of price and output. The model projects the bGH may lead to the exit of 5,400 New York dairy farms and a 20 percent reduction in herd size. Consumers will benefit from an approximately 30 percent drop in milk price. The effect on gradual diffusion of bGH on farm...
Tipo: Journal Article Palavras-chave: Livestock Production/Industries.
Ano: 1986 URL: http://purl.umn.edu/28882
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The Causes of Economic Inefficiencies in New York Dairy Farms AgEcon
Thomas, Arthur C.; Tauer, Loren W..
Technical and overall cost efficiencies are measured for 125 New York dairy farms. Explanatory models of efficiencies are estimated to determine how farms can increase their efficiencies. Changes in efficiencies are explained by changes in both assets and prices. Efficiency levels are explained by farm and operator characteristics.
Tipo: Working Paper Palavras-chave: Livestock Production/Industries.
Ano: 1991 URL: http://purl.umn.edu/121482
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NEGATIVE MILK SUPPLY RESPONSE UNDER CONSTRAINED PROFIT MAXIMIZING BEHAVIOR AgEcon
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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PRODUCTIVITY OF DAIRY PRODUCTION IN INDIVIDUAL STATES AgEcon
Tauer, Loren W.; Lordkipanidze, Nazibrola.
In a competitive market dairy production will shift to that region which is the most productive. Thus, this paper reports the measurement of productivity of dairy production in the various states of the U.S. using recent Census data and non-parametric Malmquist index techniques. These are total factor productivity measures that do not require the assumption of cost or profit maximization behavior for aggregation. Individual state estimates of changes in efficiency, technology, and productivity from 1987 to 1992 were computed, divided by 1987 values. Over these states the average increase in productivity was 3.6 percent, or about 0.7 percent per year. Almost all of the productivity increase occurred from technological change, since the average increase in...
Tipo: Conference Paper or Presentation Palavras-chave: Dairy Productivity; Malmquist Index; Livestock Production/Industries; Productivity Analysis.
Ano: 1999 URL: http://purl.umn.edu/21670
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Segmenting the Milk Market into bST-Produced and Non-bST-Produced Milk AgEcon
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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FARMER EFFICIENCY AND TECHNOLOGY USE WITH AGE AgEcon
Tauer, Loren W.; Lordkipanidze, Nazibrola.
Productivity of U.S. farmers by age is measured by non-parametric programming using 1992 Census data, decomposed into efficiency and technology Malmquist index components. Productivity increases slightly with age and then decreases. In most states productivity variations are from technology use rather than efficiency differences.
Tipo: Journal Article Palavras-chave: Farm Management; Research and Development/Tech Change/Emerging Technologies.
Ano: 2000 URL: http://purl.umn.edu/31337
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When to Exit Dairy Farming: The Value of Waiting AgEcon
Tauer, Loren W.; Dressler, Jonathan B..
Tipo: Working Paper Palavras-chave: Farm Management.
Ano: 2010 URL: http://purl.umn.edu/121632
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Revealing an Equitable Income Allocation among Dairy Farm Partnerships AgEcon
Dressler, Jonathan B.; Tauer, Loren W..
We formulate a method to determine an equitable division of dairy farm partnership income when partners provide unequal amounts of capital, labor, and management and empirically estimate this relationship. New York dairy farm financial data are used within fixed effects and random coefficient panel regression models to reveal a systematic division of dairy farm partnership income among operators’ labor, capital, and management while controlling for heterogeneity arising from differing herd size. Results indicate that controlling for time and heterogeneity across farms due to herd size are important factors when dividing net farm income among unpaid factors of production. Empirical estimates of allocating dairy farm partnership income to equity,...
Tipo: Working or Discussion Paper Palavras-chave: Dairy; Opportunity costs; Unpaid factors production; Net farm income; Operators’ labor; Capital; Management.; Agricultural Finance; Farm Management; Q10; Q12.
Ano: 2011 URL: http://purl.umn.edu/102116
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Optimal Levels of Inputs to Control Listeria monocytogenes Contamination at a Smoked Fish Plant AgEcon
Tauer, Loren W.; Nightingale, Cameron; Ivanek, Renata; Wiedmann, Martin.
Reducing the incidence of listeriosis from contaminated food has significant social health benefits, but reduction requires the use of additional or higher quality inputs at higher costs. We estimate the impact of three inputs in a food processing plant on the prevalence of L. monocytogenes contaminated finished cold smoked salmon. These three inputs were non-contamination of the raw fish fillets, non-contamination of the plant environment, and rate of glove changes on workers. We then estimate the levels of these inputs to use such that the marginal cost of these inputs become equal to the increased social health benefit of reduction in human listeriosis. Since the costs of these inputs are borne by the food processing plant, which may not be able to...
Tipo: Conference Paper or Presentation Palavras-chave: Food Consumption/Nutrition/Food Safety.
Ano: 2005 URL: http://purl.umn.edu/19423
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Quantifying the Contributions to Dairy Farm Business Risk: Implications for Producer's Risk Management Strategies AgEcon
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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AGRICULTURAL DIVERSITY AND CASH RECEIPT VARIABILITY FOR INDIVIDUAL STATES AgEcon
Tauer, Loren W.; Seleka, Tebogo B..
Changes in individual states' agricultural production diversity and variance of cash receipts were measured over the 30-year period 1960 through 1989. Diversity was measured using a general index, of which the inverse Herfindahl and the Entropy are special cases. Cash receipt variability was measured using a heteroscedasticity correction process. Although 38 states experienced an increase in cash receipt variability, only 14 states also experienced a decrease in diversification. Thus, it appears that an increase in cash receipt variability was not due to reduction in diversification for most states.
Tipo: Working or Discussion Paper Palavras-chave: Production Economics.
Ano: 1994 URL: http://purl.umn.edu/14764
Registros recuperados: 57
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