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Production Practice Alternatives for Income and Suitable Field Day Risk Management

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  • Dillon, Carl R.

Abstract

Production risk includes yield and days suitable for fieldwork variability. Both were modeled using biophysical simulation and a mean-variance, chance-constrained mathematical programming formulation representing a Kentucky corn, soybean, and wheat producer. While crop diversification, planting date, and maturity group can be used to reduce the types of risk considered, interaction between the two influences how production practices are used to manage risk. For the conditions studied, plant population alterations were less effective for risk reduction of either component. The study provides evidence of the importance of the consideration of both elements of production risk in whole farm planning.

Suggested Citation

  • Dillon, Carl R., 1999. "Production Practice Alternatives for Income and Suitable Field Day Risk Management," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 31(2), pages 247-261, August.
    • Handle: RePEc:cup:jagaec:v:31:y:1999:i:02:p:247-261_00
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    Citations

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    Cited by:

    1. Larson, James A. & English, Burton C. & He, Lixia, 2008. "Economic Analysis of Farm-Level Supply of Biomass Feedstocks for Energy Production Under Alternative Contract Scenarios and Risk," Integration of Agricultural and Energy Systems Conference, February 12-13, 2008, Atlanta, Georgia 48706, Farm Foundation.
    2. Vassalos, Michael & Dillon, Carl R. & Coolong, Tim, 2012. "Choice of Optimal Planting and Marketing Decisions for Fresh Vegetable Producers: A Mathematical Programming Approach," 2012 Annual Meeting, February 4-7, 2012, Birmingham, Alabama 120016, Southern Agricultural Economics Association.
    3. Salim, Juma K. & Dillon, Carl R. & McAllister, Jack, 2006. "Risk management on application of minimum-cost feed ration for nitrogen and phosphorus reduction on dairy farm," 2006 Annual meeting, July 23-26, Long Beach, CA 21274, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    4. Kanakasabai, Murali & Dillon, Carl R. & Skees, Jerry R., 2001. "Microeconomic Evaluation Of Farm Risk Management Decisions In Kentucky," 2001 Annual Meeting, July 8-11, 2001, Logan, Utah 36178, Western Agricultural Economics Association.
    5. Leppälä, Jarkko & Rautiainen, Risto & Kauranen, Ilkka, 2015. "Analysis of risk management tools applicable in managing farm risks: A literature review," International Journal of Agricultural Management, Institute of Agricultural Management, vol. 4(3), April.
    6. Ekman, Sone, 2002. "Cost-Effective Farm-Level Nitrogen Abatement in the Presence of Environmental and Economic Risk," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24860, European Association of Agricultural Economists.
    7. Kanakasabai, Murali & Dillon, Carl R., 2004. "Potential For Farm Adaptation To Global Climatic Change In Kentucky," 2004 Annual meeting, August 1-4, Denver, CO 20422, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    8. Larson, James A. & English, Burton C. & He, Lixia, 2008. "Risk and Return for Bioenergy Crops under Alternative Contracting Arrangements," 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas 6842, Southern Agricultural Economics Association.
    9. Salim, Juma K. & Dillon, Carl R., 2007. "Precision Feeding in Dairy Ration Cost Minimization Under Producer's Risk Management," 2007 Annual Meeting, February 4-7, 2007, Mobile, Alabama 34925, Southern Agricultural Economics Association.
    10. Dillon, Carl R. & Gandonou, Jean-Marc, 2007. "Precision Timing and Spatial Allocation of Economic Fertilizer Application," 2007 Annual Meeting, February 4-7, 2007, Mobile, Alabama 34955, Southern Agricultural Economics Association.

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