Among prominent recognized features of the industrialization of animal production over the past half century are growth in the stock of inflexible, or use-dedicated capital, as an input in production, and growth in productivity. Less recognized is a trend toward aseasonal production. We record...

The article develops a dynamic capital valuation model in which farms can act with farm-varying cost to increase the probability of avoiding an infectious endemic animal disease. Multiple endemic disease equilibria can exist, and the one with the largest set of action takers is socially optimal....