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Assessing the comparative economics of a biotechnology: Artificial insemination dairy sires

Author

Listed:
  • C. Richard Shumway

    (Professor of Agricultural Economics at Texas A&M University, Associate Professor of International Animal Science at Cornell University, Assistant Professor of Agricultural Economics at Texas A&M University, and Research Scientist and Dairy Extension Specialist at Texas A&M University)

  • Robert W. Blake

    (Professor of Agricultural Economics at Texas A&M University, Associate Professor of International Animal Science at Cornell University, Assistant Professor of Agricultural Economics at Texas A&M University, and Research Scientist and Dairy Extension Specialist at Texas A&M University)

  • David J. Leatham

    (Professor of Agricultural Economics at Texas A&M University, Associate Professor of International Animal Science at Cornell University, Assistant Professor of Agricultural Economics at Texas A&M University, and Research Scientist and Dairy Extension Specialist at Texas A&M University)

  • Michael A. Tomaszewski

    (Professor of Agricultural Economics at Texas A&M University, Associate Professor of International Animal Science at Cornell University, Assistant Professor of Agricultural Economics at Texas A&M University, and Research Scientist and Dairy Extension Specialist at Texas A&M University)

Abstract

Much opportunity exists to increase economic returns from the artificial insemination, dairy sire selection decision. This article measures potential returns to producers with alternative objective functions, management and financial characteristics. The costs of wrong decisions from incorrect information are measured by differences between alternative sets of top-20 Holstein sires selected from more than 400 available. Correct specification of the objective function is most important. Determination of planning horizon and conception rate also merits allocation of some scarce management resources. Correct information about length of calving interval, female mortality rate, and opportunity cost of capital, however, is economically inconsequential.

Suggested Citation

  • C. Richard Shumway & Robert W. Blake & David J. Leatham & Michael A. Tomaszewski, 1987. "Assessing the comparative economics of a biotechnology: Artificial insemination dairy sires," Agribusiness, John Wiley & Sons, Ltd., vol. 3(2), pages 207-220.
    • Handle: RePEc:wly:agribz:v:3:y:1987:i:2:p:207-220
    DOI: 10.1002/1520-6297(198722)3:2<207::AID-AGR2720030207>3.0.CO;2-4
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    Cited by:

    1. Álvarez, Antonio & Roibás, David, 2006. "An Economic Model to Evaluate the Contribution of Genetics to Milk Production," Efficiency Series Papers 2006/02, University of Oviedo, Department of Economics, Oviedo Efficiency Group (OEG).
    2. Johnson, Nancy L., 1995. "The Diffusion Of Livestock Breeding Technology In The U.S.: Observations On The Relationship Between Technical Change And Industry Structure," Staff Papers 13706, University of Minnesota, Department of Applied Economics.
    3. Katherine D. Young & C. Richard Shumway & H. L. Goodwin, 1990. "Profit maximization-does it matter?," Agribusiness, John Wiley & Sons, Ltd., vol. 6(3), pages 237-253.

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