The Dixit entry/exit real option model was applied to the entry/exit decisions of New York dairy farmers. For the cost structure of a 500-cow farm the entry milk price is $17.52 per hundredweight (cwt.) and the exit milk price is $10.84. For the 50-cow farm cost structure the entry price is...

Infectious diseases play a critical role in determining the profitability of individual farms and maintaining the viability of livestock industries, international trade, and trade policies. Thus, it is critical to analyze the economic consequences of infectious diseases, and the effects of...

This paper presents empirical measures of the efficiency of the New York family dairy farm over its life cycle. The increase and then decrease in farm efficiency with age is only minor. Factors not correlated with age are much more important in determining efficiency. Exiting farmers who appear...

Agricultural studies have often differentiated and estimated different technologies within a sample of farms. The common approach is to use observable farm characteristics to split the sample into several groups and subsequently estimate different functions for each group. Alternatively, unique...

The production and profit impacts of recombinant Bovine Somatotropin (rbST) on select New York dairy farms were estimated using data over the years 1994 through 2004, by comparing matching farms which use and do not use rbST. The use of rbST increases milk production per cow and decreases the...

The impact of inputs on the four decomposed milk outputs of fluid milk, butterfat, protein, and other solids were estimated using an output distance function, with New York dairy farm level data. Differential impacts of inputs on component production indicate that milk component composition can...

The Dixit entry/exit real option model was applied to the entry/exit decisions of New York dairy farmers. For the cost structure of a 500-cow farm, the entry milk price is $17.52 per hundredweight (cwt) and the exit milk price is $10.84. For the 50-cow farm cost structure, the entry price is...