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...

The price and quantity effects of a forthcoming biotechnology product, bovine growth hormone (bGH), are explored in a simple partial equilibrium model. The model is based on previous theoretical work on technological change but is developed in terms of a sector output. A particular output curve...

Includes: A Sequential Decision Framework for Evaluating Groundwater Supply Alternatives Under Uncertainty, by Carol L. Sarnat; Successful Dairy Farm Management Strategies: A Stochastic Dominance Analysis of Farm Records, by Jonas B. Kauffman, III; The Effect of Acreage Reduction Programs on the...

Distinguished Member Award: Robert O. Sinclair; Honorary Life Member Award: Raymond C. Smith