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| Rasmussen, Svend. |
| The state-contingent approach to production economics presented by Chambers and Quiggin provides a new basis for deriving optimality criteria for production under uncertainty. In the present paper criteria are formally derived for risk-averse producers. It is not possible to derive useful criteria for strictly risk-averse producers, but useful criteria for risk-neutral producers are presented for three different types of input. Based on a formal definition of ‘good’ and ‘bad’ states of nature, the use of inputs and levels of production of strictly risk-averse producers are compared to those of risk-neutral producers. Depending on the type of input, risk-averse producers may use more or less input than risk-neutral producers. |
| Tipo: Journal Article |
Palavras-chave: Risk and Uncertainty. |
| Ano: 2003 |
URL: http://purl.umn.edu/118157 |
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| Rasmussen, Svend. |
| Using the Bichel Committee's report as a source, this brief is a summary of farmers' loss of operating profits in relation to the transfer to pesticide free cultivation. The summary involves the case-area of Havelse Kildeplads, an area of drinking water reclamation situated at Frederikssund in the North of Zealand. In connection with the brief, alternative principles of estimating compensation in the case of voluntary reorganisation to pesticide free cultivation are discussed. In this connection the significance of risk and insecurity is also exposed, including the variation in levels of output between farmers. It is calculated that for crop holdings a mean loss of DKK 1,100 - 1,200 per hectare at 2003 price levels will take place. However, the de facto... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Crop Production/Industries. |
| Ano: 2003 |
URL: http://purl.umn.edu/24202 |
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| Rasmussen, Svend. |
| This paper uses representative farm account data for 1985-2007 to estimate stochastic production frontiers in the form of input distance functions for Danish crop, dairy and pig farms. The objective is to study and compare scale economies for the three farm types. The estimated technical efficiency is relatively constant over time for all three farm types, but the elasticity of scale differs. Although the size of all farm types has increased considerably during the last 20 years, more than 95 % of the crop farms and 85 % of the dairy and pig farms are still below the estimated technical optimal scale of production. The results support the hypothesis that the restrictions concerning the amalgamation of farms and the purchase of farm land have seriously... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Scale economies; Agriculture; SPF; Input distance function; Technical optimal scale; Elasticity of scale; Farm Management. |
| Ano: 2011 |
URL: http://purl.umn.edu/114790 |
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| Rasmussen, Svend. |
| In a recent paper Rasmussen (Rasmussen 2003) derived criteria for optimal production under uncertainty based on the state-contingent approach developed by Chambers and Quiggin (2000). While the criteria in the 2003-paper were derived for the one variable input case, and for different types of input, the present paper generalises the results to the multi-variable input case. It is further shown that with the output-cubical technology as the basic model, any type of input may be analysed as a special case within the general model framework developed. The main part of the paper is devoted to the problems of empirical application of the State-contingent approach. To empirically apply the optimization criteria derived, one needs specific functional forms of... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Production Economics; Risk and Uncertainty. |
| Ano: 2004 |
URL: http://purl.umn.edu/24184 |
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| Rasmussen, Svend. |
| This paper presents the results of an empirical analysis of technological change and economies of scale in Danish agriculture. The estimation is based on a multi-output, multi-input translog cost function and covers the period 1973-1995. The results show that technological change varied considerably. The average rate of technological change was highest on arable farms (4.0% per year) and lowest on dairy farms (1.0% per year), with pig farms in between (2.2% per year). Alt three farm types showed an increasing trend in technological change over time, and technological changes were typically biased. The elasticity of size was considerably above 1 for both small and large arable farms and dairy farms indicating a considerable economic incentive to increase... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Research and Development/Tech Change/Emerging Technologies. |
| Ano: 2000 |
URL: http://purl.umn.edu/24185 |
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