Managing replacement and culling in dairy herds

2021 ◽  
pp. 299-320
Author(s):  
Albert De Vries ◽  
Keyword(s):  
Risk Factors ◽  
Decision Making ◽  
Dairy Cows ◽  
Environmental Sustainability ◽  
Dairy Herds ◽  
Economic Decision ◽  
Economic Decision Making ◽  
Replacement Decisions ◽  
The Cost ◽  
Economic Considerations

Approximately one third of dairy cows are replaced every year. Replacement of dairy cattle is an important part of the cost of dairy production and an environmental sustainability concern. Primary culling reasons are reduced health and fertility. Reduced welfare often proceeds culling. This chapter focuses on factors that affect replacement and culling in dairy herds with a focus on cows. The act of culling is simple, but the risk factors and economic considerations are complex. The chapter first presents some data on culling risks and reasons, explores more in depth the effects of poor health on culling, and presents aspects of economic decision making regarding culling and replacement decisions.

Practitioner's View on the Future of Economic Decision-Making in Project Management

2019 ◽  
Vol 6 (2) ◽  
pp. 33-55
Author(s):  
Brian J. Galli
Keyword(s):  
Decision Making ◽  
Project Management ◽  
Future Trend ◽  
Team Size ◽  
Economic Decision ◽  
Economic Decisions ◽  
Economic Decision Making ◽  
The Future ◽  
Financial Decision ◽  
The Cost

As of now, the best means to plan for the future is project management because it has been proven effective in problem-solving and generating solutions. Few projects entail economic decision-making because of the cost factor, but the wrong decisions can be made because of the complications that come with making economic decisions. However, financial decision-making does not only entail gathering information and making decisions accordingly. The economy must be analyzed and the future economy must be estimated for any economic decisions to be viable. This study highlights the future trend, as well as the significance of economic decision-making within project management. Furthermore, it tests several factors: economic decision-making influence, creativity, risk profile, and the management team size for a successful project. Primarily, this study will assess how significant economic decision-making is in project management.

scholarly journals Estimating Time Preferences from Convex Budgets

2012 ◽  
Vol 102 (7) ◽  
pp. 3333-3356 ◽  
Author(s):  
James Andreoni ◽  
Charles Sprenger
Keyword(s):  
Decision Making ◽  
Risk Aversion ◽  
Utility Function ◽  
Time Preferences ◽  
Economic Decision ◽  
Economic Decision Making ◽  
Measures Of Risk ◽  
High Utility ◽  
The Cost ◽  
Allocation Decisions

Experimentally elicited discount rates are frequently higher than what seems reasonable for economic decision-making. Such high rates are often attributed to present-biased discounting. A well-known bias of standard measurements is the assumption of linear consumption utility. Attempting to correct this bias using measures of risk aversion to identify concavity, researchers find reasonable discounting but at the cost of exceptionally high utility function curvature. We present a new methodology for identifying time preferences, both discounting and curvature, from simple allocation decisions. We find reasonable levels of both discounting and curvature and, surprisingly, dynamically consistent time preferences. (JEL C91, D12, D81)

Discussions on Eco-Economic Decision-Making in Farmland Management

2013 ◽  
Vol 807-809 ◽  
pp. 741-745
Author(s):  
Hsiao Wei Chen ◽  
Yen Lan Liu
Keyword(s):  
Decision Making ◽  
Linear Programming ◽  
Research Methods ◽  
Scenario Analysis ◽  
Environmental Sustainability ◽  
Fertilizer Use ◽  
Economic Decision ◽  
Economic Decision Making ◽  
High Level ◽  
Agriculture Development

This paper examines the possibility of green fertilizer fallowing supporting eco (logical)-economicdecision-making in farmland management. Using scenario analysis and linear programming as research methods, this paper examines farmland allocations and fertilizer use in Taiwan under different economics perspectives and fallow subsidy rates. It is concluded that in agriculture development, reconciliation between the pursuit of profit and environmental sustainability is possible. However, it is not suggested that this reconciliation be achieved via high-level fallow subsidies. Rather, it is critical that the ecological economics view of decision-making be employed in farmland management.

Economic decision making under conditions of extreme time pressure and option overload: an eye-tracking study

2008 ◽  
Author(s):  
Elena Reutskaja ◽  
Johannes Pulst-Korenberg ◽  
Rosemarie Nagel ◽  
Colin F. Camerer ◽  
Antonio Rangel
Keyword(s):  
Decision Making ◽  
Eye Tracking ◽  
Time Pressure ◽  
Economic Decision ◽  
Economic Decision Making
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