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dc.contributor.authorWorkman, J. P.
dc.contributor.authorKing, S. L.
dc.contributor.authorHooper, J. F.
dc.date.accessioned2020-09-30T04:39:03Z
dc.date.available2020-09-30T04:39:03Z
dc.date.issued1972-09-01
dc.identifier.citationWorkman, J. P., King, S. L., & Hooper, J. F. (1972). Price elasticity of demand for beef and range improvement decisions. Journal of Range Management, 25(5), 338-341.
dc.identifier.issn0022-409X
dc.identifier.doi10.2307/3896541
dc.identifier.urihttp://hdl.handle.net/10150/647476
dc.description.abstractIn recent years many leaders in the cattle industry have advocated restraint in cattle numbers in order to improve the cattleman's market position. During the same period, numerous articles have appeared in the Journal of Range Management recommending various range improvements as means of increasing beef output. There has been some question as to whether these two recommendations are contradictory. Since the rationality of the two recommendations depends upon the price elasticity of demand for beef, regression analysis was used to estimate a demand function for beef. An elasticity coefficient of -0.67 was derived from this function and then employed in the construction of a payoff matrix in order to determine the correct action for the individual rancher to take with regard to cattle numbers. The analysis indicates that increases in cattle numbers by individual ranchers (through range improvements or other management tools) are economically sound goals. The study also suggests that cattle numbers at the industry level will likely continue to increase despite the recommendations of cattle industry leaders.
dc.language.isoen
dc.publisherSociety for Range Management
dc.relation.urlhttps://rangelands.org/
dc.rightsCopyright © Society for Range Management.
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/
dc.titlePrice Elasticity of Demand for Beef and Range Improvement Decisions
dc.typetext
dc.typeArticle
dc.identifier.journalJournal of Range Management
dc.description.noteThis material was digitized as part of a cooperative project between the Society for Range Management and the University of Arizona Libraries.
dc.description.collectioninformationThe Journal of Range Management archives are made available by the Society for Range Management and the University of Arizona Libraries. Contact lbry-journals@email.arizona.edu for further information.
dc.eprint.versionFinal published version
dc.description.admin-noteMigrated from OJS platform August 2020
dc.source.volume25
dc.source.issue5
dc.source.beginpage338-341
refterms.dateFOA2020-09-30T04:39:03Z


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