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A note on the estimation of economic values for selection indices: a response

  • B. E. Melton (a1), R. L. Willham (a1) and E. O. Heady (a1)

Abstract

Various procedures for estimating the economic values required to weight characteristics in multitrait selection have been proposed. Some, despite their theoretically sound foundations, are frequently misinterpreted. One such method involves the derivation of economic values based upon accepted economic theories of the firm, profit maximization, and the concepts of marginal economic behaviour. An amplified and more rigorous presentation of this method and its theoretical basis is presented that confirms the basic propriety of the method, clarifies the misinterpretations surrounding its application, and offers additional insights into the potential fallacy of less economically rigorous alternatives.

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Chaing, A. C. 1974. Fundamental methods of mathematical economics. 2nd ed. McGraw-Hill, New York.
Falconer, R. S. 1960. Introduction to quantitative genetics. Ronald Press, New York.
Goddard, M. E. 1983. Selection indices for non-linear profit functions. Theoretical and Applied Genetics 64: 339344.
Hazel, L. N. 1943. The genetic basis for construction of selection indices. Genetics 28: 476490.
Henderson, J. M. and Quandt, R. E. 1980. Microeconomic theory: a mathematical approach. 3rd ed. McGraw-Hill, New York.
Melton, B. E., Heady, E. O. and Willham, R. L. 1979. Estimation of economic values for selection indices. Animal Production 28: 279286.
Stigler, G. J. 1966. The theory of price. Macmillan Company, New York.
Thompson, R. 1980. A note on the estimation of economic values for selection indices. Animal Production 31: 115117.

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