Swine Breeding Systems: A Stochastic Evaluation with Implications for Emerging Technology

Raymond E. Massey and Joseph E. Williams

Journal of Agricultural and Applied Economics, 1991, vol. 23, issue 1, 227-235

Abstract: The after-tax net present value for 27 swine breeding systems composed of Duroc, Hampshire, and Yorkshire breeds were simulated and ordered using stochastic dominance analysis. The concept of the value of information was expanded to develop the concept of the willingness to pay to adopt a new technology. For producers not currently using the dominant system, estimates of the allowable present value cost of adoption are reported and used to explain diverse production practices.

Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:cup:jagaec:v:23:y:1991:i:01:p:227-235_01

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