Estimation of Gain Isoquants and a Decision Model Application for Swine Production
1976
Sonka, Steven T. | Heady, Earl O. | Dahm, P Fred
Historic estimates of livestock production functions have used repeated observations on the animals to estimate the overall gain surface. The estimates involve autocorrelation accordingly. To circumvent this problem, gain isoquants are estimated directly by means of an instrumental variable approach. Data are from a swine experiment designed for the purpose with 648 hogs. Protein supplement and corn serve as the substitute inputs. Protein supplement is estimated as the instrumental variable. Isoquant equations then are predicted for three weight intervals. Finally, a decision model is applied for economic choice. Comparisons are made for various price sets of recent years.
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