Modeling Dynamic Agricultural Production Response: The Case of Swine Production

Jean-Paul Chavas (), James Kliebenstein and Thomas D. Crenshaw

American Journal of Agricultural Economics, 1985, vol. 67, issue 3, 636-646

Abstract: Crop and livestock production processes are typically dynamic and involve growing biological assets which are eventually marketed. This study presents a production model of biological growth based on a differential equation specification. Economic implications for optimal input use and optimal replacement policy are discussed in this context. The approach is applied to the growing-finishing phase of a swine production enterprise. The results demonstrate that the knowledge of the growth function is crucial in evaluating dynamic production decisions.

Date: 1985
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:67:y:1985:i:3:p:636-646.

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