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Imputing Input Characteristic Values from Optimal Commercial Breed or Variety Choice Decisions

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  • Bryan E. Melton
  • W. Arden Colette
  • Richard L. Willham

Abstract

Previous Input Characteristics Models (ICMs) are modified and extended to allow the economic values of individual genetic characteristics to be imputed, even when those characteristics are acquired in largely inseparable bundles such as in the animal breed or plant variety decision of commercial producers. Through analysis of the commercial breed selection decision for a representative beef producer, the extended ICM is shown to generally be more flexible, with less restrictive data requirements for estimation, than prior ICMs. Additional modifications of the extended ICM method of analysis are suggested to further enhance and broaden its applicability.

Suggested Citation

  • Bryan E. Melton & W. Arden Colette & Richard L. Willham, 1994. "Imputing Input Characteristic Values from Optimal Commercial Breed or Variety Choice Decisions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 76(3), pages 478-491.
    • Handle: RePEc:oup:ajagec:v:76:y:1994:i:3:p:478-491.
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    Citations

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    Cited by:

    1. Outlaw, Joe L. & Anderson, David P. & Padberg, Daniel I., 1997. "Relationships Between Market Price Signals and Production Management: The Case of Fed Beef," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 29(1), pages 37-44, July.
    2. Tun-Hsiang Yu & C. Phillip Baumel & Connie L. Hardy & Marty J. McVey & Lawrence A. Johnson & Jerry L. Sell, 2001. "Impacts of six genetic modifications of corn on feed cost and consumption of traditional feed ingredients," Agribusiness, John Wiley & Sons, Ltd., vol. 18(1), pages 115-127.
    3. Dalton, Timothy J., 2004. "A household hedonic model of rice traits: economic values from farmers in West Africa," Agricultural Economics, Blackwell, vol. 31(2-3), pages 149-159, December.
    4. Parcell, Joseph L. & Dhuyvetter, Kevin C. & Patterson, David J. & Randle, Richard, 2005. "The Value of Carcass Characteristic EPDs in Bred Heifer Price," 2005 Conference, April 18-19, 2005, St. Louis, Missouri 19041, NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    5. Bohorova, Svetlana & Scrimgeour, Frank G., 2000. "Evaluating The Potential Productivity Gains Associated With Biotechnological Improvement: The Case Of Kiwifruit In New Zealand," Transitions in Agbiotech: Economics of Strategy and Policy, June 24-25, 1999, Washington, D.C. 25995, Regional Research Project NE-165 Private Strategies, Public Policies, and Food System Performance.
    6. Baker, Mindy L. & Babcock, Bruce A., 2008. "Value maximization from corn fractionation: feed, greenhouse gas reductions, and cointegration of ethanol and livestock," Integration of Agricultural and Energy Systems Conference, February 12-13, 2008, Atlanta, Georgia 48714, Farm Foundation.
    7. Richards, Timothy J. & Jeffrey, Scott R., 1995. "Hedonic Pricing of Dairy Bulls - An Alternative Index of Genetic Merit," Project Report Series 24035, University of Alberta, Department of Resource Economics and Environmental Sociology.

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