HERD STRUCTURE AND MILK SUPPLY RESPONSE
研究指出以往牛奶供给反应研究忽略牛群结构变化，提出基于劳动与资本相对成本的牛群规模理论，并用于解释1964-1982年英格兰和威尔士的牛群数量、平均规模及产奶量变化。
Research on milk supply response has previously concentrated on changes in the national herd and changes in yield. It is argued that this does not provide a sound foundation for understanding the secular increase in milk output given generally declining real milk prices. A recent theory of farm size is outlined and adapted to explain changes in dairy herd size. The herd size determinants are the relative costs of labour and capital. The theory is used to specify equations which are estimated to explain changes in the number of herds, the average size of herds, and yields in England and Wales 1964–1982.