Access the full text.
Sign up today, get DeepDyve free for 14 days.
R. Kingwell (1994)
Risk attitude and dryland farm managementAgricultural Systems, 45
Jack Meyer (1977)
Second Degree Stochastic Dominance with Respect to a FunctionInternational Economic Review, 18
S. Harrison, K. Woodford, J. Dent, J. Dent (1986)
Farm Planning with Linear Programming: Concept and Practice
Stewart Johnson, K. Tefertiller, D. Moore (1967)
Stochastic Linear Programming and Feasibility Problems in Farm Growth AnalysisAmerican Journal of Agricultural Economics, 49
J. Antle (1983)
Sequential Decision Making in Production ModelsAmerican Journal of Agricultural Economics, 65
(1992)
What's Best! The ABC's of Optimisation, Lindo Systems Inc., Chicago
S. Pandey (1990)
Risk-Efficient Irrigation Strategies for Wheat
J. Pratt (1964)
RISK AVERSION IN THE SMALL AND IN THE LARGE11This research was supported by the National Science Foundation (grant NSF-G24035). Reproduction in whole or in part is permitted for any purpose of the United States Government.
(1986)
A User's Guide to the Generalised Stochastic Dominance Program for the IBM PC, Department of Agricultural Economics and Rural Sociology, University of Arkansas, Fayetteville
A. Rae (1981)
Crop Management Economics
P. Schoemaker (1982)
The Expected Utility Model: Its Variants, Purposes, Evidence and LimitationsJournal of Economic Literature, 20
C. Barnard, J. Nix (1973)
Farm Planning and Control
A. Rae (1970)
CAPITAL BUDGETING, INTERTEMPORAL PROGRAMMING MODELS, WITH PARTICULAR REFERENCE TO AGRICULTUREAustralian Journal of Agricultural and Resource Economics, 14
K. Cocks (1968)
Discrete Stochastic ProgrammingManagement Science, 15
(1991)
Guidelines on Incorporating Risk in Farming Systems
D. Pannell, B. Malcolm, R. Kingwell (1995)
Are we risking too much? Perspectives on risk in farm modellingAgricultural Economics, 23
R. King, L. Robison (1981)
An Interval Approach to Measuring Decision Maker PreferencesAmerican Journal of Agricultural Economics, 63
R. Kingwell, D. Pannell, Stephen Robinson (1993)
Tactical responses to seasonal conditions in whole-farm planning in Western AustraliaAgricultural Economics, 8
J. Hardaker, S. Pandey, Louise Patten (1991)
Farm Planning under Uncertainty: A Review of Alternative Programming ModelsReview of marketing and agricultural economics, 59
(1994)
Economics of On-Farm Proposals: Berriquin Land and Water Management Plan, a report to the Berriquin Community
A. Rae (1971)
An Empirical Application and Evaluation of Discrete Stochastic Programming in Farm ManagementAmerican Journal of Agricultural Economics, 53
Jack Meyer (1977)
Choice among distributionsJournal of Economic Theory, 14
When assessing farming strategies, it is important to account for the opportunities provided for tactically adjusting to outcomes of risk. The hypothesis that accounting for tactical adjustment is more important than accounting for risk attitude was supported in this study with regard to identifying the optimal drainage recirculation strategy for an irrigated dairy farm. Failing to account for tactical adjustment would lead to a sub‐optimal choice, costing the farmer about A$3 100 in present value terms. In contrast, failing to account for risk aversion would not affect the strategy chosen. The distribution method was found to be well suited to modelling tactical adjustment.
The Australian Journal of Agricultural Resource Economics – Wiley
Published: Dec 1, 1997
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Copy and paste the desired citation format or use the link below to download a file formatted for EndNote
Access the full text.
Sign up today, get DeepDyve free for 14 days.
All DeepDyve websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.