scholarly journals On the use of opportunity costs in deriving the economic value of herd life

1997 ◽  
Vol 65 (3) ◽  
pp. 335-341 ◽  
Author(s):  
A. F. Groen ◽  
J. A. M. van Arendonk ◽  
M. E. Goddard ◽  
A. R. Vollema
Keyword(s):  
Genetic Improvement ◽  
Economic Value ◽  
Opportunity Costs ◽  
Economic Values ◽  
Future Production ◽  
Breeding Goals ◽  
Economic Perspectives ◽  
Reduction Of Costs

AbstractThis paper presents the economic perspectives applied when either using or not using opportunity costs of postponed replacement in deriving the economic value of herd life. Results show the equivalence of the rescaling method and the correction for opportunity costs. In economic terms, using rescaling or correction for opportunity costs forces the value of genetic improvement to change from revenues of increased output to reduction of costs per unit of (fixed) ouput. Under the zero profit theory, the economic value of herd life is equal when either using or not using correction for opportunity costs. In deriving economic values to define breeding goals, the choice of a method and price parameters will have to depend on foreseen future production circumstances for the system under study.

scholarly journals The influence of restricting nitrogen losses of dairy farms on dairy cattle breeding goals

1994 ◽  
Vol 42 (1) ◽  
pp. 21-27
Author(s):  
M.H.A. Steverink ◽  
A.F. Groen ◽  
P.B.M. Berentsen
Keyword(s):  
Body Weight ◽  
Genetic Improvement ◽  
Dry Matter ◽  
Economic Value ◽  
Dry Matter Intake ◽  
Nitrogen Losses ◽  
Environmental Legislation ◽  
Cattle Breeding ◽  
Economic Values ◽  
Dairy Cattle Breeding

The objective of this paper was to investigate the influence of environmental legislation to restrict nitrogen losses on dairy cattle breeding goals. Linear programming was used to model a dairy farm, including multiple restrictions on product output and production factor input. Management was optimized to maximize labour income. Effects of genetic improvement on labour income (economic values) were derived for dry-matter intake capacity, body weight and milk production (carrier, fat and protein). Also effects of genetic improvement on the farm's nitrogen losses were computed. Basic economic values calculated were 0, -0.05, -0.18, 0.78, and 13.81 for dry matter intake capacity, body weight, carrier, fat and protein, respectively. With more stringent environmental legislation, the economic value of fat increased (1.68) and the economic value of body weight decreased (-0.21), with constant economic values of carrier, protein and dry matter intake capacity. Generally, a higher fat production per cow resulted in a reduction of nitrogen losses, and an increase in body weight increased nitrogen losses.

The economics of cognitive effort

2013 ◽  
Vol 36 (6) ◽  
pp. 704-705 ◽  
Author(s):  
John Andrew Westbrook ◽  
Todd S. Braver
Keyword(s):  
Behavioral Economics ◽  
Economic Value ◽  
Cognitive Effort ◽  
Opportunity Costs ◽  
Behavioral Economic ◽  
Cost Factors

AbstractIf cognitive effort indexes opportunity costs, it should be investigated like other cost factors including risk and delay. We discuss recent methodological advances in behavioral economics and neuroeconomics, highlighting our own work in measuring the subjective (economic) value of cognitive effort. We discuss the implications of Kurzban et al.'s proposal and how some of its predictions may be untestable without behavioral economic formalisms.

Economic Perspective on the Value of Cats and Dogs

2019 ◽  
Vol 27 (5-6) ◽  
pp. 595-613
Author(s):  
Ruben Hoffmann ◽  
Carl-Johan Lagerkvist ◽  
Malin Hagberg Gustavsson ◽  
Bodil Ström Holst
Keyword(s):  
Online Survey ◽  
Economic Value ◽  
Well Being ◽  
Future Research ◽  
Subjective Well Being ◽  
Economic Values ◽  
Proposed Model ◽  
Starting Point ◽  
Use Values ◽  
Good Starting Point

AbstractAlthough various benefits of cats and dogs have been extensively studied, their fundamental economic value is poorly understood. Economic values are, in contrast to monetary values, determined subjectively and guide individuals in their decisions. This study presents a conceptual economic model of the value of cats and dogs which provides a basis for future research. Benefits of cats and dogs identified in the literature are categorized in relation to the model. The multidimensional value of these nonhuman animals includes different use and non-use values, for caretakers and other humans. Data from an online survey on the salience (importance of attributes in memory) of cats and dogs in Sweden provide support for the proposed model. It is argued that the subjective well-being approach developed in psychology provides a good starting point for estimating many of the economic values of these animals, but that different types of values may require different approaches.

A growth model to estimate economic values for food intake capacity in pigs

1992 ◽  
Vol 55 (2) ◽  
pp. 241-246 ◽  
Author(s):  
A. G. de Vries ◽  
E. Kanis
Keyword(s):  
Food Intake ◽  
Growth Model ◽  
Economic Value ◽  
Growing Pigs ◽  
Production Costs ◽  
Economic Values ◽  
Biological Growth ◽  
Protein Deposition ◽  
Positive Economic ◽  
Ad Libitum

AbstractA biological growth model was developed to study economic values for average ad libitum food intake capacity (FIC) in growing pigs. The model was based on the linear/plateau relationship between protein deposition and food intake. Input variables were: minimum fat to protein deposition ratio (R), maximum protein deposition rate (Pdmax)and food intake (FI). Output variables were production traits and production costs.Economic values (under commercial conditions with ad libitum feeding) were derived with the growth model for each of the traits FIC, R, and Pdmax keeping the other two traits constant, for three alternative levels of FIC. If FIC was too low to realize Pdmax, FIC had a positive economic value, R had a negative economic value and the value of Pdmax was zero. If FIC was higher than necessary to realize Pdmax, economic values were negative, zero and positive for FIC, R, and Pdmax respectively. If FIC was just sufficient to realise Pdmax, the lowest production costs occurred. Now, R had a negative economic value and Pdmax had a positive economic value.With a restricted feeding regimen under commercial conditions a daily food supply just sufficient to realize Pdmax should be pursued. It was concluded that use of a biological growth model to estimate economic values for FIC would give more insight into correct selection strategies than would the use of an economic model.

Calculating economic values for turkeys using a deterministic production model

2009 ◽  
Vol 89 (2) ◽  
pp. 201-213 ◽  
Author(s):  
B J Wood
Keyword(s):  
Economic Model ◽  
Economic Value ◽  
Production Model ◽  
Feed Consumption ◽  
Production Traits ◽  
Breast Meat ◽  
Economic Values ◽  
High Fecundity ◽  
Production Chain ◽  
Breeding Objectives

Modern poultry breeding has been successful in achieving significant gains in production due to high fecundity, relatively short generation interval (in comparison with other species) and, last, the application of scientific processes in genetic evaluation. The objective of this paper was to document the development of an economic model relevant to the integrated turkey industry and to use the model to describe appropriate breeding objectives by calculating economic values for important production traits. The industry was modelled from the multiplier breeder down through to the processor. Each level in the production chain used a unit of production such as a live poult produced, a carcass delivered at the processing plant or a processed unit of meat to scale between different production divisions. Growth rate, feed consumption and breast meat yield all had similar relative economic value, while the reproductive traits (egg production, fertility and hatchability) had similar economic values to each other, but were smaller in comparison with the commercial production traits. The model was sensitive to assumed costs, such as feed price and, also for assumed returns in the form of breast meat value, and, as a consequence, care must be taken in the assumed pricing structure when calculating economic values for turkey breeding.Key words: Economic model, economic value, turkeys, breeding objectives

Effects of production and marketing circumstances on economic values for beef production traits

1998 ◽  
Vol 78 (1) ◽  
pp. 47-55 ◽  
Author(s):  
K. R. Koots ◽  
J. P. Gibson
Keyword(s):  
Beef Cattle ◽  
Key Words ◽  
Production System ◽  
Economic Value ◽  
Fixed Costs ◽  
Production Traits ◽  
Beef Production ◽  
Fixed Amount ◽  
Economic Values ◽  
Mature Size

The effect of altering production and marketing circumstances on economic values is quantified for a complete beef production system. Absolute and relative economic values were found to vary substantially with large, but realistic fluctuations in prices and costs. In addition, several examples of different management and different genotypes gave markedly different economic values than in the base situation. Also investigated were the effects of rescaling the enterprise to accommodate three alternative limitations; fixed feed available from pasture, fixed dollars available for feed or fixed amount of beef produced. The effects of rescaling were highly dependent on whether or not fixed costs were accounted for. When fixed costs were ignored (corresponding to a small positive profit) the economic value for mature size decreased while that for fertility increased, but other traits were largely unaffected by rescaling. Overall, production circumstances that reduced survival and fertility yielded the largest changes to economic values. Key words: Economic values, beef cattle, rescaling

Opportunities for genetic improvement of sheep and cattle in the hills and uplands

1994 ◽  
Vol 18 ◽  
pp. 51-66
Author(s):  
G. Simm ◽  
J. Conington ◽  
S. C. Bishop
Keyword(s):  
Genetic Improvement ◽  
Livestock Industry ◽  
Current Structure ◽  
Livestock Species ◽  
Selection Experiments ◽  
Breeding Programmes ◽  
Breeding Schemes ◽  
Breeding Goals

AbstractThe principles of genetic improvement apply to hill sheep and cattle in just the same way as they apply to other livestock species. However, the breeding goals often differ, and will continue to change in the light of new economic and political circumstances. Also, there are particular problems of implementing breeding programmes in some of these areas, which do not apply to other livestock species. In this paper we aim to review or discuss (i) the current structure of the livestock industry in the hills and uplands, (ii) strategies for genetic improvement, (iii) the results of relevant selection experiments and industry breeding schemes, (iv) some of the difficulties of implementing breeding programmes and possible solutions, and (v) new opportunities for the genetic improvement of animals in the hills and uplands.

scholarly journals Efisiensi dan Nilai Ekonomi Daging Sapi untuk Potongan Pasar Tradisional Berdasarkan Potongan Komersial yang Berbeda

2020 ◽  
Vol 8 (2) ◽  
pp. 86-90
Author(s):  
M. Baihaqi ◽  
E. L. Aditia
Keyword(s):  
Economic Value ◽  
T Test ◽  
Lower Amount ◽  
Processed Meat ◽  
Test Analysis ◽  
Economic Values ◽  
Different Types ◽  
Statistical Program ◽  
The Cost ◽  
Program Version

Beef consumers in Indonesia are generally more familiar with the term of traditional processed meat such as rendang and semur compared to the standard commercial cuts. Those terms of beef cuts are usually used in meat trading as a communication language. The study aimed to evaluate the yield and economic value of traditional beef cuts including rendang, semur and tetelan derived from different types of standard commercial cuts. A total of 298.7 kg of beef consisting of 60 commercial cuts of topside and blade were used in this study. Each of commercial cuts was then broken down into common traditional common market name such as rendang, semur and tetelan cuts. The observed parameters consisted of the weights and percentages of the cuts and their economic values, including the cost of goods manufactured (COGM). The differences between topside and blade cuts in their yield and economic value were compared by t-test analysis using the R statistical program version 4.0.0. The results showed that the weight of topside cut was significantly lower than that blade (P <0.05). However, the topside cut produced significantly higher amount and percentage of rendang and significantly lower amount and percentage of semur and tetelan compared to the blade (P<0.05). Economically, the value of blade cut was higher than that of topside for each kg of the traditional beef cuts (rendang, semur, tetelan) produced. It could, therefore, be concluded that the topside cut is economically more efficient than the blade in producing the traditional beef cuts.

scholarly journals The ecological and economic values of a 50 years old secondary forest in East Kalimantan, Indonesia

2021 ◽  
Vol 22 (10) ◽  
Author(s):  
Karmini Karmini ◽  
Karyati Karyati ◽  
Kusno Yuli Widiati
Keyword(s):  
Stand Structure ◽  
Secondary Forest ◽  
Diversity Index ◽  
Land Use Changes ◽  
Economic Value ◽  
Floristic Composition ◽  
Secondary Forests ◽  
Economic Values ◽  
East Kalimantan ◽  
Artocarpus Elasticus

Abstract. Karmini, Karyati, Widiati KY. 2021. The ecological and economic values of a 50 years old secondary forest in East Kalimantan, Indonesia. Biodiversitas 22: 4597-4607. Secondary forests in the tropics are often ignored since they are assumed to have low ecological functions while on the other hand the economic values have been reduced. This study aimed to analyze the ecological and economic values of a 50-year secondary forest in East Kalimantan that experienced several various land-use changes. The ecological aspects analyzed were stand structure, floristic composition, and species diversity. Economic aspects include log prices, logging costs, profit margins, and stumpage values. A vegetation survey of woody trees with a diameter at breast height of more than 5 cm was carried out on ten plots measuring 20 m × 20 m each. A total of 437 trees belonging to 38 species, 30 genera, and 19 families were recorded with Moraceae and Euphorbiaceae were the most dominant families with Family Important Value (FIV) of 86.79. The three most dominant species were Macaranga motleyana (IVi of 50.95), Artocarpus elasticus (IVi of 34.41), and Symplocos fasciculata (IVi of 31.46). The trees in the study plot have a diversity index of 1.33, dominance index of 0.07, evenness index of 0.37, and species richness of 6.09. The average logging cost, logs price, lumber price, profit margin, and stumpage value at secondary forest were USD69.43 m-3, USD44.63 m-3, USD100.03 m-3, USD10.30 m-3, and USD28.73 ha-1, respectively. The 50 years old secondary forests in East Kalimantan have biodiversity, especially trees that have economic value, therefore their existence needs to be preserved and their use is carried out by maintaining and increasing biodiversity.

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