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dc.coverage.spatialMedellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degrees
dc.date.available2015-09-04T00:40:18Z
dc.date.issued2015-07-09
dc.identifier.urihttp://hdl.handle.net/10784/7349
dc.description.abstractThe world meat market demands competitiveness and optimal livestock replacement decisions can help to achieve this goal. We introduce a novel discrete stochastic dynamic programming framework to support a manager’s decision-making process of whether to sell or keep fattening animals in the beef sector. In particular, our proposal uses a non-convex value function, combining both economic and biological variables, and involving uncertainty with regard to price fluctuations. Our methodology is very general, so practitioners can apply it in different regions around the world. We illustrate the model’s convenience with an empirical application, finding that our methodology generates better results than actions based on empirical experience.
dc.language.isoengeng
dc.publisherUniversidad EAFIT
dc.titleDetermining the Optimal Selling Time of Cattle: A Stochastic Dynamic Programming Approach
dc.typeinfo:eu-repo/semantics/workingPaper
dc.typeworkingPapereng
dc.rights.accessrightsinfo:eu-repo/semantics/openAccesseng
dc.publisher.departmentEscuela de Economía y Finanzas
dc.type.localDocumento de trabajo de investigaciónspa
dc.subject.keywordDecision Analysiseng
dc.subject.keywordFarm Managementeng
dc.subject.keywordSimulationeng
dc.rights.localAcceso abiertospa
dc.date.accessioned2015-09-04T00:40:18Z
dc.type.hasVersiondrafteng
dc.identifier.jelQ12
dc.identifier.jelC51
dc.identifier.jelC61
dc.contributor.authorRamírez Hassan, Andrésspa
dc.contributor.authorMejía, Susanaspa


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