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Using A Multiple Product And Multiple Input Approach To Dairy Profit Maximization: A Simulation Using Operations Research Methods

Author

Listed:
  • Hadley, Gregg
  • Harsh, Stephen B.
  • Wolf, Christopher A.

Abstract

Dairy producers generally take a single output/multiple input approach when making production decisions. Under component pricing, with large variance in individual component prices, a multiple output/multiple input approach maximizes profits. This paper applied our approach to the individual farm milk production decision.

Suggested Citation

  • Hadley, Gregg & Harsh, Stephen B. & Wolf, Christopher A., 1999. "Using A Multiple Product And Multiple Input Approach To Dairy Profit Maximization: A Simulation Using Operations Research Methods," 1999 Annual meeting, August 8-11, Nashville, TN 21569, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea99:21569
    DOI: 10.22004/ag.econ.21569
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    References listed on IDEAS

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    1. William J. Gillmeister & Robert D. Yonkers & James W. Dunn, 1996. "Hedonic Pricing of Milk Components at the Farm Level," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 18(2), pages 181-192.
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