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Zgajnar, Jaka; Kavcic, Stane. |
The paper presents multiple criteria approach to deal with risk in farmer’s decisions. Decision making process is organised in a framework of spreadsheet tool. It is supported by deterministic and stochastic mathematical programming techniques applying optimisation concept. Decision making process is conceptually divided into seven autonomous modules that are mutually linked up. Beside the common maximisation of expected income through linear programming it enables also reconstruction of current production practice. Income risk modelling is based on portfolio theory resting on expected value, variance (E,V) paradigm. Modules dealing with risk are therefore supported with quadratic and constrained quadratic programming. Non-parametric approach is utilised... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Goal programming; Risk modelling; Risk aversion; Production planning; Risk and Uncertainty. |
Ano: 2011 |
URL: http://purl.umn.edu/118033 |
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