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Incorporating Uncertainty in the Analysis of Optimal Beef-Forage Production Systems

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  • Rawlins, Richard B.
  • Bernardo, Daniel J.

Abstract

A risk programming model was developed to evaluate the tradeoffs between risk and expected returns in beef-forage production systems. The specification represents nutrient and intake considerations when allocating forage among cattle enterprises; it also incorporates the various sources of risk facing livestock producers. Efficient ranch organizations were derived for a representative eastern Oklahoma ranch using MOTAD and Target-MOTAD formulations. Diversification of forage enterprises, introduction of cow-calf enterprises, and retained ownership of weaned calves were identified as important responses to reductions in acceptable levels of risk. Results also indicated efficient ranch plans to be sensitive to the risk criteria and producer's willingness to accept risk.

Suggested Citation

  • Rawlins, Richard B. & Bernardo, Daniel J., 1991. "Incorporating Uncertainty in the Analysis of Optimal Beef-Forage Production Systems," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 23(1), pages 213-225, July.
    • Handle: RePEc:cup:jagaec:v:23:y:1991:i:01:p:213-225_01
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    Cited by:

    1. Bechtel, Amos I. & Young, Douglas L., 1999. "The Importance Of Using Farm Level Risk Estimates In Crp Enrollment Decisions," 1999 Annual Meeting, July 11-14, 1999, Fargo, ND 35717, Western Agricultural Economics Association.
    2. Popp, Michael P. & Faminow, Merle D. & Parsch, Lucas D., 1998. "Adoption Of Backgrounding On Cow-Calf Farms," 1998 Annual meeting, August 2-5, Salt Lake City, UT 20800, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Popp, Michael P. & Faminow, Merle D. & Parsch, Lucas D., 1999. "Factors Affecting The Adoption Of Value-Added Production On Cow-Calf Farms," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 31(1), pages 1-12, April.
    4. P. Havlík & F. Jacquet & J.M. Boisson & S. Hejduk & P. Veselý, 2006. "Mathematical programming models for agri-environmental policy analysis: A case study from the White Carpathians," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 52(2), pages 51-66.

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