When to Get In and Out of Dairy Farming: A Real Option Analysis
| dc.creator | Tauer, Loren W. | |
| dc.date | 2017-04-01T19:44:06Z | |
| dc.date.accessioned | 2026-07-09T03:34:46Z | |
| dc.description | The Dixit entry/exit real option model was applied to the entry/exit decisions of New York dairy farmers. For the cost structure of a 500-cow farm the entry milk price is $17.52 per hundredweight (cwt.) and the exit milk price is $10.84. For the 50-cow farm cost structure the entry price is higher at $23.71 per cwt., and the exit price is also higher at $13.48. If infinite numbers of representative farms enter and exit at these prices, the price of milk should range between $13.48 and $17.52 per cwt. | |
| dc.identifier | doi:10.22004/ag.econ.21251 | |
| dc.identifier | https://ageconsearch.umn.edu/record/21251/files/sp06ta02.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/21251 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/535631 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/21251 | |
| dc.title | When to Get In and Out of Dairy Farming: A Real Option Analysis | |
| dc.type | Text |