Data/hora: 03/06/2024 17:52:31

Provedor de dados: 	31	
País: 	United States	
Título: 	Optimal On-Farm Grain Storage by Risk-Averse Farmers	
Autores: 	Lai,   Jing-Yi; Myers,   Robert J.; Hanson,   Steven D.	
Data: 	2006-09-25	
Ano: 	2003	
Palavras-chave: 	Grain storage; Risk aversion; Stochastic dynamic programming; Agribusiness.	
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 on-farm 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 findings show, contrary to the "sell all or nothing" risk-neutral rule, risk-averse farmers will spread sales out over the storage season. As farmers become more risk averse, the optimal strategy is to sell more grain at harvest and spread sales over the storage season, even though this practice reduces expected return. This result is more consistent with observed farmer behavior than the "sell all or nothing" risk-neutral rule.	
Tipo: 	Journal Article	
Idioma: 	Inglês	
Identificador: 	23791

http://purl.umn.edu/31063	
Editor: 	AgEcon Search	
Relação: 	Journal of Agricultural and Resource Economics&gt;Volume 28, Number 03, December 2003	
Formato: 	22

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