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| Petsakos, Athanasios; Rozakis, Stelios. |
| Positive Mathematical Programming (PMP) is one of the most commonly used methods of calibrating activity linear programming (LP) models in agriculture. PMP applications published thus far focus on the estimation of a farm’s nonlinear cost or profit function and rely on the recovery of unobserved or implicit information that can explain the initial model’s inability to calibrate. In this paper we use the PMP procedure to calibrate an expected utility model under the assumption that this implicit information can reveal a farmer’s profit expectations and risk attitude. The perfect calibration shows that PMP can be applied not only to LP models, but also to models that incorporate risk and this provides an interesting alternative to the traditional PMP... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: E-V analysis; Expected utility; Farm model; Positive Mathematical Programming; Risk.; Risk and Uncertainty. |
| Ano: 2011 |
URL: http://purl.umn.edu/114762 |
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| Komarek, Adam M.; MacAulay, T. Gordon. |
| Using an expected mean-variance model the changes in farm enterprise levels and indirect utility were examined under conditions of risk aversion, budget constraints and gross margin variance. An extension of the comparative statics of the expected mean-variance model was adopted by introducing a budget constraint into the constrained optimisation problem. A 10-year expected mean-variance whole-farm model was solved for a farm in the wheat-sheep zone of Australia to provide an empirical example. Results were obtained using no planning horizon (the static model) and then with a five-year rolling planning horizon (the dynamic model). In addition, enterprise levels were constrained to match levels observed on the farm so as to compare incomes between the... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Whole-farm modelling; Enterprise selection; Risk.; Farm Management; Q12; C61. |
| Ano: 2011 |
URL: http://purl.umn.edu/100574 |
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| Aredes, Alan Figueiredo de; Pereira, Matheus Wemerson Gomes; Alves, Marcelo de Castro; Santos, Maurinho Luiz dos. |
| The formation of agricultural stock has the important paper of softening the seasonal impacts, lessening the discrepancy among the prices in the harvest and time between harvests, contributing, like this, with the stabilization of the price. In that sense, the present article aimed at to analyze the financial viability in the Arabic stockpiling of coffee in the area of Viçosa -MG, being obtained for that the return and the stockpiling risk for every month of the year. In agreement with the results, the stockpiling of the coffee is a strategy financially viable, being a factor in the elevation of the return and decrease of the risk level, especially in what he/she concerns the stockpiling in the period of 8, 9 and 10 months and the sale of the coffee in... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Coffee; Return; Risk.; Crop Production/Industries. |
| Ano: 2008 |
URL: http://purl.umn.edu/96286 |
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| Villarreal Gonzalez, Amado; Celaya Figueroa, Roberto. |
| The importance of the horticultural sector in generating employment, the spread of economic and financial resources in the use of supplies and generating foreign income, are undeniable aspects of the kindnesses that has brought the development of this sector. Nevertheless, the feel of the producers, especially the small and medium, is that the access to financing is very limited. Carrying out a work of investigation between the actors of the supply and demand of credit, and analyzing the plans of successful financing in other sectors, the present work designs a more favorable plan of financing where the Horticulture can have access to opportune and sufficient financing through the organization of producers, the constitution of sufficient guarantees and the... |
| Tipo: Journal Article |
Palavras-chave: Financing; Integration; Risk.; Agribusiness. |
| Ano: 2008 |
URL: http://purl.umn.edu/48821 |
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