Index selection for both current and future generation gains

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Abstract
When economic returns from current and future generation gains are comparable in magnitude, selection decisions should take account of both sources of gain. A combined selection index is devised to maximize the present value of discounted returns from all sources. The index depends on genetic and phenotypic variances and covari-ances, population structure, discount rate and the relation of annual returns to individual traits. The combined index can be regarded as the sum of separate indices maximizing returns from each source. The method is illustrated with a simple example using wool weight and body weight in sheep.

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