| Registro completo |
| Provedor de dados: |
AgEcon
|
| País: |
United States
|
| Título: |
OPTIMAL POST-HARVEST GRAINS STORAGE BY RISK AVERSE FARMERS
|
| Autores: |
Lai, Jing-Yi
Myers, Robert J.
Hanson, Steven D.
|
| Data: |
2001-11-13
|
| Ano: |
2001
|
| Palavras-chave: |
Crop Production/Industries
|
| Resumo: |
Most previous research on post-harvest grain storage by farmers has assumed risk-neutral behavior and/or made restrictive assumptions about underlying price probability distributions. In this study we solve the optimal post-harvest storage problem for a risk averse farmer under more general assumptions about underlying price distributions. The resulting model is applied to Michigan corn farmers and results show that, contrary to the sell all-or-nothing risk-neutral rule, risk averse farmers will spread sales out over the storage season. The optimal pattern for sales by Michigan corn farmers is to sell approximately 50% of corn at harvest in November (a risk-reduction strategy) and approximately 40% in May (a return-enhancing strategy).
|
| Tipo: |
Working or Discussion Paper
|
| Idioma: |
Inglês
|
| Identificador: |
3821
http://purl.umn.edu/11739
|
| Editor: |
AgEcon Search
|
| Relação: |
Michigan State University>Department of Agricultural Economics>Staff Paper Series
Staff Paper 2001-50
|
| Formato: |
33
application/pdf
|
