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| Reid, Donald W.; Tew, Bernard V.. |
| This article evaluates the performance of expected value and expected value-variance criteria in achieving risk efficiency in crop selection. Results indicate that the expected returns criterion achieves risk efficiency in many situations because of constraints. However, in the absence of many constraints the expected returns criterion performs poorly except when highly mean-dominant activities are present. The expected value-variance criterion achieves a high degree of risk efficiency for all situations examined. This result implies that criteria more complex than expected value-variance are not necessary for crop selection analysis, given empirical returns distributions. |
| Tipo: Journal Article |
Palavras-chave: Crop Production/Industries. |
| Ano: 1987 |
URL: http://purl.umn.edu/28985 |
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| Tew, Bernard V.; Reid, Donald W.. |
| This study shows that the price-yield correlation is a major influence in determining the skewness of revenue. Therefore, normality for revenue may not be rejected even if the price and/or yield distributions are significantly skewed. Analysis of cotton revenue for Mississippi shows that this can be the case empirically when the correlation between price and yield is moderately negative and the relative variability of yield and price is not too high. Hence, for crops produced in their major production regions where negative correlations between prices and yields are the greatest, revenue distributions may have a greater tendency toward normal. |
| Tipo: Journal Article |
Palavras-chave: Crop Production/Industries. |
| Ano: 1988 |
URL: http://purl.umn.edu/28827 |
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