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Supply Growth and Dairy Industry Deregulation

Published online by Cambridge University Press:  10 May 2017

Ching-Cheng Chang
Affiliation:
The Pennsylvania State University
Spiro E. Stefanou
Affiliation:
The Pennsylvania State University
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Abstract

Optimal control models of aggregate milk supply and demand behavior are used to describe the optimal phasing of the deregulatory dairy price support in the presence of supply growth. Producers are assumed to face costs of adjustment, and are myopic with respect to price expectations and the adoption of the new quasi-fixed factor augmenting technology.

Type
Research Article
Copyright
Copyright © 1987 Northeastern Agricultural and Resource Economics Association 

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