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1996
Jeffrey, Scott, Richards, Timothy J.
This study investigates the relationships between farm size, milk yield, cost of production, and technical efficiency in the Alberta dairy industry. Estimates of a stochastic production frontier are obtained with two alternative methods; an iterative \"average frontier\" (AF) procedure and a...
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1998
Jeffrey, Scott, Richards, Timothy J.
Dairy production at the farm-level is undergoing a rapid transformation in preparation for more open competition in the future. However, the means by which dairy farms can best improve their economic performance is of some question. Using measures of allocative, technical, and overall efficiency...
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The Economics of a Regulated Dairy Market: An Empirical Analysis of Factors Determining the Value of Fluid Milk Quota
Download1995
Veeman, Michele M., Dong, Xizo-yuan
Based on the hypothesis that tradeable marketing quotas may be analysed as an economic input in the production process of regulated firms, the standard capital asset pricing model is adapted to assess the impact of expectations of quota rents on Ontario fluid milk quota values. The analysis...
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The Simple Analytics of Transferable Production Quota: Implications for the Marginal Cost of Ontario Milk Production
Download1996
Using the fact that separate markets exist for used and unused quota, this paper derives a formula to compute the marginal cost of the milk production along a competitive dynamic optimization model. It is showed that, under a perfect competitive quota market, the difference between unused quota...