Decision Rule for the (DES) Investments in the Dairy Cow Stock

摘要

The paper presents a simplified version of an alpha-numerically specified modelfor the development of the national milk supply in the long run. From the model the author derives reaction equations for the optimal level of the (des) investments in the dairy cow stock. These relations can be used as a starting point for e.g. the estimation of the long run elasticity of the milk supply with respect to the milk price.