Premium
Imputing Input Characteristic Values from Optimal Commercial Breed or Variety Choice Decisions
Author(s) -
Melton Bryan E.,
Colette W. Arden,
Willham Richard L.
Publication year - 1994
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1243659
Subject(s) - breed , variety (cybernetics) , selection (genetic algorithm) , econometrics , statistics , computer science , mathematics , biology , ecology , machine learning
Previous Input Characteristics Models (ICMs) are modified and extended to allow the economic values of individual genetic characteristics to be imputed, even when those characteristics are acquired in largely inseparable bundles such as in the animal breed or plant variety decision of commercial producers. Through analysis of the commercial breed selection decision for a representative beef producer, the extended ICM is shown to generally be more flexible, with less restrictive data requirements for estimation, than prior ICMs. Additional modifications of the extended ICM method of analysis are suggested to further enhance and broaden its applicability.