Determining optimal selling time of cattle: a stochastic dynamic programming application

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dc.contributor.advisorRamírez Hassan, Andrés
dc.contributor.authorMejía Mejía, Susana
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 degreeseng
dc.creator.degreeMagíster en Economíaspa
dc.creator.emailsmejiame@eafit.edu.cospa
dc.date.accessioned2016-03-08T03:43:21Z
dc.date.available2016-03-08T03:43:21Z
dc.date.issued2015
dc.description.abstractWorld’s meat market conditions have forced the beef sector to look for strategies to become competitive and researchers have proved that optimal replacement decisions are one of the most important factors that affect competitiveness -- The present paper formulates a model in a discrete stochastic dynamic programming framework which describes manager’s decision-making process combining both economic and biological variables and involving uncertainty on price fluctuations: investors can use the model to support their decisions of selling or keeping a fattening animal -- The methodology developed is very general and can be used in different regions under similar production conditions by calibrating the parameters and making the required changes according to local regulations -- The paper illustrates model’s conveniences with an empirical application based on a local Colombian market, proving that researchers were right when ranked the dynamic programming as an excellent modeling tool for evaluating livestock replacementspa
dc.identifier.urihttp://hdl.handle.net/10784/8153
dc.language.isospaspa
dc.publisherUniversidad EAFITspa
dc.publisher.departmentEscuela de Economía y Finanzasspa
dc.publisher.programMaestría en Economíaspa
dc.rights.accessrightsinfo:eu-repo/semantics/openAccesseng
dc.rights.localAcceso abiertospa
dc.subject.keywordMeat industry and tradespa
dc.subject.keywordCompetitivenessspa
dc.subject.keywordEconometric analysisspa
dc.subject.keywordElasticityspa
dc.subject.lembINDUSTRIA DE LA CARNEspa
dc.subject.lembCOMPETITIVIDADspa
dc.subject.lembANÁLISIS ECONOMÉTRICOspa
dc.subject.lembTOMA DE DECISIONESspa
dc.subject.lembPROGRAMACIÓN DINÁMICAspa
dc.subject.lembCARNE - PRODUCCIÓNspa
dc.subject.lembELASTICIDADspa
dc.titleDetermining optimal selling time of cattle: a stochastic dynamic programming applicationspa
dc.typemasterThesiseng
dc.typeinfo:eu-repo/semantics/masterThesiseng
dc.type.hasVersionacceptedVersioneng
dc.type.localTesis de Maestríaspa

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