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Optimal Government Policy In Response To Bovine Somatotropin

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  • Tauer, Loren W.
  • Kaiser, Harry M.

Abstract

A discrete optimal control model is constructed and solved to determine optimal adjustments in dairy policy over time in response to bovine somatotropin. Results indicate that government should remove cows after bST is widely adopted. The ability to wait is beneficial since the impact of bST is yet unknown.

Suggested Citation

  • Tauer, Loren W. & Kaiser, Harry M., 1989. "Optimal Government Policy In Response To Bovine Somatotropin," 1989 Annual Meeting, July 30-August 2, Baton Rouge, Louisiana 270658, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea89:270658
    DOI: 10.22004/ag.econ.270658
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    References listed on IDEAS

    as
    1. Milligan, Robert & Lesser, William H. & Magrath, William B. & Tauer, Loren & Bauman, Dale, 1985. "Biotechnology and Dairy Industry: Production costs, Commercial Potential, and the Economic Impact of the Bovine Growth Hormone," Research Bulletins 183730, Cornell University, Department of Applied Economics and Management.
    2. Pindyck, Robert S., 1982. "The optimal phasing of phased deregulation," Journal of Economic Dynamics and Control, Elsevier, vol. 4(1), pages 281-294, November.
    3. Lesser, William H. & Magrath, William B. & Kalter, Robert J., 1985. "Projecting Adoption Rates: Application of an Ex Ante Procedure to Biotechnology Projects," Staff Papers 185898, Cornell University, Department of Applied Economics and Management.
    4. Loren W. Tauer & Harry M. Kaiser, 1991. "Optimal Dairy Policy with Bovine Somatotropin," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 13(1), pages 1-17.
    5. William B. Magrath & Loren W. Tauer, 1988. "New York Milk Supply with Bovine Growth Hormone," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 10(2), pages 233-241.
    6. Chang, Ching-Cheng & Stefanou, Spiro E., 1987. "Supply Growth And Dairy Industry Deregulation," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 16(1), pages 1-9, April.
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    Cited by:

    1. Blayney, Don P. & Fallert, Richard F., 1990. "Biotechnology and Agriculture: Emergence of Bovine Somatotropin (bST)," Staff Reports 278330, United States Department of Agriculture, Economic Research Service.

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