Farm performance measures based upon 10 years of individual farm data are linearly regressed on risk preferences of 41 dairy farmers. Greater aversion to risk produces a lower average but more stable income, although the importance of risk preferences in determining long-run performance appears...

New York milk supply functions with ans without Bovine Growth Hormone were estimated by a sector linear programming model. High Government price supports make bGH profitable and induces significant increases in output. Reduction or elimination of Price supports greatly diminishes bGH as a...

Data from a panel of New York Dairy farms were used to estimate rbST adoption functions, and to measure the impact of rbST on milk output and profitability per cow. Adoption results are consistent with previous rbST adoption studies. Farm size, productivity and education of the principal...

Nonparametric production methods are used to estimate individual supply response and input demand elasticities for a group of New York dairy farm businesses. The ranges of estimates from the upper and lower bounds are extremely large, probably because only nine observations (years) are available...

Recent developments in investment analysis and their relevancy in agricultural investment assessment are discussed. The Net Present Value model can be modified to incorporate the value of strategic management of an investment into the initial evaluation of that investment. Since these decisions...

This paper discusses the value to milk producers and consumers of segmenting the milk market into bST-produced milk and non-bST-produced milk markets, versus losing milk consumption from consumers who will not consume bST-produced milk. Results indicate that both bST-using producers and...