Previous Input Characteristics Models (ICMs) are modified and extended to allow the economic values of individual genetic characteristics to be imputed, even when those characteristics are acquired in largely inseparable bundles such as in the animal breed or plant variety decision of commercial producers. Through analysis of the commercial breed selection decision for a representative beef producer, the extended ICM is shown to generally be more flexible, with less restrictive data requirements for estimation, than prior ICMs. Additional modifications of the extended ICM method of analysis are suggested to further enhance and broaden its applicability.

In recent years animal breeders have increasingly made use of output:input ratios and simple measures of economic efficiency, such as annual profits, as a basis for comparisons and evaluations of the commercial applicability of alternative beef breeds. In many instances, however, output:input ratios may produce fallacious indications of economic efficiency that may, in turn, lead to erroneous conclusions regarding the true commercial applicability of the breeds evaluated. Errors potentially arising from the use of output:input ratios in breed evaluations may be attributed to a combination of 1) a narrow range of input use values under which most breeds are evaluated and 2) the inability of output:input ratios, including average annual profitability, to reflect consistently the economic objectives of commercial cow-calf producers. An alternative basis for breed comparison and evaluation is, therefore, developed from economic theories related to optimal investment and asset replacement. Comparison of the results obtained with this alternative to those obtained from output:input ratio evaluation, including annual profitability, indicate that potential value differences of as much as 33% may result from the use of output:input ratios as a primary basis of commercial breed evaluation.

No abstract

Increased vegetable production for the fresh market often has been suggested as an agricultural alternative that will improve the income situation of small-scale farmers. Because vegetable production is an intensive activity and high incomes per acre are possible, it has political appeal as a quick solution to the low income levels generally associated with small farm operations. This study was developed from the small farm program of the University of Florida, which has concentrated on the northern and panhandle areas of Florida. Trials conducted by the Vegetable Crops Department of the University of Florida in 1974 and 1975 indicate that by variation of the planting season and control of insects and diseases, vegetables can be produced during periods of the year when the north Florida area has not historically competed in the fresh vegetable market.