The expected utility of genetic information in beef cattle production

Scientific inquiry is increasing our knowledge of plant and animal genomics. The ability to specify heterogeneous production processes, to sort agricultural inputs by genotype, or to guide breeding programs to satisfy specific markets based on genetic expression may increase producer and consumer benefits. This research develops a decision analysis framework to assess the expected value of genetic information under risk aversion. Expected utilities are evaluated both with and without genetic trait information. Potential gains in the value of information can be quantified as research unravels the linkages between genetics and crop and animal performance and quality. An application to cattle feeding indicates potential gains to developing markets for specific animal genetic characteristics based on the amino acid sequence of the leptin gene.