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Reliability of Using the Mean Absolute Deviation to Derive Efficient E,V Farm Plans

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  • K. J. Thomson
  • P. B. R. Hazell

Abstract

A linear programming approximation using the mean absolute deviation can be used to derive efficient E,V farm plans when a suitable quadratic programming computer code is not available. This note reports a Monte Carlo simulation study designed to test the accuracy of this method, and concludes that it is more reliable than previously thought.

Suggested Citation

  • K. J. Thomson & P. B. R. Hazell, 1972. "Reliability of Using the Mean Absolute Deviation to Derive Efficient E,V Farm Plans," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 54(3), pages 503-506.
    • Handle: RePEc:oup:ajagec:v:54:y:1972:i:3:p:503-506.
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    File URL: http://hdl.handle.net/10.2307/1239169
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    Cited by:

    1. Collender, Robert N., 1988. "Normative Economics under Uncertainty and Risk Aversion: The Land Allocation Problem Revisited," Department of Economics and Business - Archive 259432, North Carolina State University, Department of Economics.
    2. Sherrick, Bruce J. & Irwin, Scott H. & Forster, D. Lynn, 1986. "Returns to Capital in Agriculture: A Historical View Using Portfolio Theory," 1986 Annual Meeting, July 27-30, Reno, Nevada 278457, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Lichtenberg, Erik, 1990. "Determination of Regional Environmental Policy Under Uncertainty: Theory and Case Studies," Working Papers 197748, University of Maryland, Department of Agricultural and Resource Economics.
    4. 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.
    5. Petrick, Martin & Ditges, C. Markus, 2000. "Risk in agriculture as impediment to rural lending: the case of North-Western Kazakhstan," IAMO Discussion Papers 24, Leibniz Institute of Agricultural Development in Transition Economies (IAMO).
    6. Angirasa, Aditi K. & Shumway, C. Richard & Nelsen, T.C. & Cartwright, Thomas C., 1981. "Integration, Risk, And Supply Response: A Simulation And Linear Programming Analysis Of An East Texas Cow-Calf Producer," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 13(1), pages 1-10, July.
    7. Anderson, Jock R., 1975. "Programming For Efficient Planning Against Non-Normal Risk," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 19(2), pages 1-14, August.
    8. Zuckerkandel, Karen & Elterich, G. Joachim, 1983. "Risk and Return in Field Crops as Compared to Processing Vegetables on the Delmarva Peninsula," Journal of the Northeastern Agricultural Economics Council, Northeastern Agricultural and Resource Economics Association, vol. 12(2), pages 1-8.
    9. Schoney, R. A., 1990. "An Analysis of Wheat Supply Response Under Risk and Uncertainty," Working Papers 244030, Agriculture and Agri-Food Canada.
    10. Adesina, A. A. & Ouattara, A. D., 2000. "Risk and agricultural systems in northern Cote d'Ivoire," Agricultural Systems, Elsevier, vol. 66(1), pages 17-32, October.
    11. Throsby, C.D., 1973. "New Methodologies in Agricultural Production Economics: a Review," 1973 Conference, August 19-30, 1973, São Paulo, Brazil 181385, International Association of Agricultural Economists.
    12. Zuckerkandel, Karen & Elterich, G. Joachim, 1983. "Risk and Return in Field Crops as Compared to Processing Vegetables on the Delmarva Peninsula," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 0(Number 2), pages 1-8.

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