THE SUB-OPTIMALITY OF THE BEEF CYCLE

Greg Hertzler and James H. Cothern

No 278293, 1979 Annual Meeting, July 29-August 1, Pullman, Washington from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: The supply of beef is investigated using spectral analysis. The 2-1/2 year lag from herd build up until production is realized requires decisions based on future prices. Producers react instead to past prices, and the cycle results. Optimal control applied to an investment model shows the cycle to be sub-optimal.

Keywords: Livestock; Production/Industries (search for similar items in EconPapers)
Pages: 14
Date: 1979-07
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea79:278293

DOI: 10.22004/ag.econ.278293

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