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Successful Dairy Farm Management Strategies Identified by Stochastic Dominance Analyses of Farm Records

Published online by Cambridge University Press:  10 May 2017

Jonas B. Kauffman III  and
Loren W. Tauer
Jonas B. Kauffman III
Affiliation:
Genesee County, New York
Loren W. Tauer
Affiliation:
Cornell University
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Abstract

First-degree and second-degree stochastic dominance were used to separate a panel of 112 dairy farms with ten annual observations per farm into successful and less successful groups using four different performance measures. Logit regression using 16 independent variables was then used to determine important farm characteristics leading to farm success. High milk production and controlling hired labor and purchased feed expenses were important. The selective adoption of new technologies was also important. Optimal debt-asset ratios varied over the 10-year period.

Type
Articles
Information
Northeastern Journal of Agricultural and Resource Economics , Volume 15 , Issue 2 , October 1986 , pp. 168 - 177
Copyright
Copyright © 1986 Northeastern Agricultural and Resource Economics Association 

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Footnotes

The authors thank B.F. Stanton and R.N. Boisvert for their comments and advice in completing this research.

References

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