Production systems - An example from Brazil

Important information about the Brazilian agribusiness, population and economy are presented in this paper, as well as details of beef production, market, industry and production system, to inform people involved in meat industry about details on demography, production, economy and production systems of a country that is the largest player in beef exports in the world and that uses, mostly, Bos indicus based bovine population, reared under pasture conditions, for meat production purposes. Herd size, genetic evaluation programs, quantity of beef produced and market is informed, with figures about the global and major players` production. Some discussion related to environmental concerns, methane emission and carbon fixation is also presented, as well as meat quality. Meat quality of fed animals is also compared with beef from animals that are raised in pasture conditions. (c) 2009 Elsevier Ltd. All rights reserved.

STABILITY ANALYSIS WITH APPLICATIONS OF A TWO-DIMENSIONAL DYNAMICAL SYSTEM ARISING FROM A STOCHASTIC MODEL FOR AN ASSET MARKET

We analyze the stability properties of equilibrium solutions and periodicity of orbits in a two-dimensional dynamical system whose orbits mimic the evolution of the price of an asset and the excess demand for that asset. The construction of the system is grounded upon a heterogeneous interacting agent model for a single risky asset market. An advantage of this construction procedure is that the resulting dynamical system becomes a macroscopic market model which mirrors the market quantities and qualities that would typically be taken into account solely at the microscopic level of modeling. The system`s parameters correspond to: (a) the proportion of speculators in a market; (b) the traders` speculative trend; (c) the degree of heterogeneity of idiosyncratic evaluations of the market agents with respect to the asset`s fundamental value; and (d) the strength of the feedback of the population excess demand on the asset price update increment. This correspondence allows us to employ our results in order to infer plausible causes for the emergence of price and demand fluctuations in a real asset market. The employment of dynamical systems for studying evolution of stochastic models of socio-economic phenomena is quite usual in the area of heterogeneous interacting agent models. However, in the vast majority of the cases present in the literature, these dynamical systems are one-dimensional. Our work is among the few in the area that construct and study analytically a two-dimensional dynamical system and apply it for explanation of socio-economic phenomena.