AN OPTIMAL CONTROL FRAMEWORK FOR INTER - REGIONAL DAIRY POLICY ANALYSIS

An eleven-region stochastic coefficient econometric model was estimated and used in an optimal control framework to evaluate the effectiveness of the dairy price support program and marketing orders in reducing and stabilizing government purchases of dairy products. The results showed significant pressure on the reduction of the support price both in the presence and absence of Class I differentials. The optimal control model also showed that the drop in price support levels did not dramatically alter the regional distribution of milk production.


Issue Date:
1992-12
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/29639
Published in:
Southern Journal of Agricultural Economics, Volume 24, Number 2
Page range:
137-147
Total Pages:
11




 Record created 2017-04-01, last modified 2017-08-24

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