Decision Rules for the Dynamic Animal Feeding Problem

Oscar R. Burt

American Journal of Agricultural Economics, 1993, vol. 75, issue 1, 190-202

Abstract: Under a criterion of maximum expected present value, dynamic programming is used to derive sequential decision rules that give feed rations as a function of animal weight and indicate the critical weight at which to sell a batch of animals. These rules are adaptable to short-term random changes in prices of inputs and outputs, and typically require solution of a single equation at a given weight. A new stochastic model is introduced that encompasses both the infinite sequence and single batch models found in the literature; the infinite chain of batches is randomly terminated after each batch is marketed.

Date: 1993
References: Add references at CitEc
Citations: View citations in EconPapers (8)

Downloads: (external link)
http://hdl.handle.net/10.2307/1242967 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:75:y:1993:i:1:p:190-202.

Access Statistics for this article

American Journal of Agricultural Economics is currently edited by Madhu Khanna, Brian E. Roe, James Vercammen and JunJie Wu

More articles in American Journal of Agricultural Economics from Agricultural and Applied Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by Oxford University Press ().