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...

Each state's agricultural production diversification is measured for 1984 and 1988. Very little difference existed between the type of index used or the year computed. Linear regressions of the coefficient of variation of receipts on diversification measures implies diversification among states...

Technical and overall cost efficiencies are measured for 125 New York dairy farms. Explanatory models of efficiencies are estimated to determine how farms can increase their efficiencies. Changes in efficiencies are explained by changes in both assets and prices. Efficiency levels are explained...

Varian's Weak Axiom of Profit Maximization was used to determine whether each of 49 New York dairy farms displayed behavior consistent with profit maximization. The results indicate that most were only moderately successful in maximizing profits. Characteristics of the farms did not strongly...