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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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| McCarl, Bruce A.; Rister, M. Edward; Ward, Ruby A.; Long, Charles R.; McCorkle, Dean A.; Ziari, Houshmand A.; Conner, J. Richard; Sturdivant, Allen W.; Thompson, Troy N.. |
| Mathematical programming-based systems analysis is used to examine the consequences of alternative operation configuration for the agricultural operations within the Texas Department of Criminal Justice. Continuation versus elimination of the total operation as well as individual operating departments are considered. Methodology includes a firm systems operation model combined with capital budgeting and an integer programming based investment model. Results indicate the resources realize a positive return as a whole, but some enterprises are not using resources profitably. The integer investment model is found to be superior for investigating whether to continue multiple interrelated enterprises. |
| Tipo: Journal Article |
Palavras-chave: Agribusiness; Enterprise selection; Mathematical programming; Optimal enterprise organization; Agribusiness. |
| Ano: 2000 |
URL: http://purl.umn.edu/15404 |
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