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The expected utility of genetic information in beef cattle production

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  • Lambert, David K.

Abstract

Scientific inquiry is increasing our knowledge of plant and animal genomics. The ability to specify heterogeneous production processes, to sort agricultural inputs by genotype, or to guide breeding programs to satisfy specific markets based on genetic expression may increase producer and consumer benefits. This research develops a decision analysis framework to assess the expected value of genetic information under risk aversion. Expected utilities are evaluated both with and without genetic trait information. Potential gains in the value of information can be quantified as research unravels the linkages between genetics and crop and animal performance and quality. An application to cattle feeding indicates potential gains to developing markets for specific animal genetic characteristics based on the amino acid sequence of the leptin gene.

Suggested Citation

  • Lambert, David K., 2008. "The expected utility of genetic information in beef cattle production," Agricultural Systems, Elsevier, vol. 99(1), pages 44-52, December.
    • Handle: RePEc:eee:agisys:v:99:y:2008:i:1:p:44-52
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    1. Thompson, Nathanael M. & Brorsen, B. Wade & DeVuyst, Eric A. & Lusk, Jayson L., 2016. "Random Sampling of Beef Cattle for Genetic Testing: Optimal Sample Size Determination," 2016 Annual Meeting, February 6-9, 2016, San Antonio, Texas 229195, Southern Agricultural Economics Association.
    2. Thompson, Nathanael M. & DeVuyst, Eric A. & Brorsen, B. Wade & Lusk, Jayson L., 2016. "Using Genetic Testing to Improve Fed Cattle Marketing Decisions," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 41(2), May.
    3. Maples, Joshua G. & Lusk, Jayson L. & Peel, Derrell S., 2019. "Technology and evolving supply chains in the beef and pork industries," Food Policy, Elsevier, vol. 83(C), pages 346-354.
    4. Thompson, Nathanael M. & DeVuyst, Eric A. & Brorsen, B. Wade & Lusk, Jayson L., 2014. "Value of Genetic Information for Beef Cattle at the Feedlot Stage," 2014 Annual Meeting, February 1-4, 2014, Dallas, Texas 162431, Southern Agricultural Economics Association.
    5. Thompson, Nathanael M. & DeVuyst, Eric A. & Brorsen, B. Wade & Lusk, Jayson L., 2014. "Value of Genetic Information for Management and Selection of Feedlot Cattle," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 39(1), pages 1-17, April.

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