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1 results

  • Cow-Calf Producers' Perceived Profit Maximization Objective: A Logit Analysis

  • Katherine D. Young, C. Richard Shumway
  • Journal:
    Journal of Agricultural and Applied Economics / Volume 23 / Issue 1 / July 1991
    Published online by Cambridge University Press:
    08 February 2017, pp. 129-136

  • A logistic regression (logit) model was developed to examine how socioeconomic characteristics of cow-calf producers influenced their perceptions of themselves as profit maximizers. Amount of pasture acreage, percent of income earned from the cow-calf operation, and desire to increase net worth and efficiently use labor significantly increased the producer's probability of claiming to be in the business primarily to maximize profits. Some sociological reasons for owning cattle significantly reduced the probability of the producer claiming to be a profit maximizer while others significantly increased the probability.