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THE INTEGRATED USE OF SIMULATION AND STOCHASTIC PROGRAMMING FOR WHOLE FARM PLANNING UNDER RISK*

THE INTEGRATED USE OF SIMULATION AND STOCHASTIC PROGRAMMING FOR WHOLE FARM PLANNING UNDER RISK* Methods of whole‐farm planning under risk are briefly reviewed, noting especially associated operational problems. A planning problem relating to spatial diversification of beef production in the Clarence region of N.S.W. is investigated using a model comprising both simulation and linear programming components. It is concluded that such composite models are valuable for the analysis of sequential stochastic decision processes not presently amenable to solution by stochastic programming alone. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Australian Journal of Agricultural Resource Economics Wiley

THE INTEGRATED USE OF SIMULATION AND STOCHASTIC PROGRAMMING FOR WHOLE FARM PLANNING UNDER RISK*

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References (4)

Publisher
Wiley
Copyright
Copyright © 1972 Wiley Subscription Services, Inc., A Wiley Company
ISSN
1364-985X
eISSN
1467-8489
DOI
10.1111/j.1467-8489.1972.tb00095.x
Publisher site
See Article on Publisher Site

Abstract

Methods of whole‐farm planning under risk are briefly reviewed, noting especially associated operational problems. A planning problem relating to spatial diversification of beef production in the Clarence region of N.S.W. is investigated using a model comprising both simulation and linear programming components. It is concluded that such composite models are valuable for the analysis of sequential stochastic decision processes not presently amenable to solution by stochastic programming alone.

Journal

The Australian Journal of Agricultural Resource EconomicsWiley

Published: Aug 1, 1972

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