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Stochastic Utility-Efficient Programming of Organic Dairy Farms

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Author Info
Flaten, Ola
Lien, Gudbrand
Abstract

Opportunities to make sequential decisions and adjust activities as a season progresses and more information becomes available characterize the farm management process. In this paper, we present a discrete stochastic two-stage utility efficient programming model of organic dairy farms, which includes risk aversion in the decision maker's objective function as well as both embedded risk (stochastic programming with resource) and non-embedded risk (stochastic programming without recourse). Historical farm accountancy data and subjective judgments were combined to assess the nature of the uncertainty that affects the possible consequences of the decisions. The programming model was used within a stochastic dominance framework to examine optimal strategies in organic dairy systems in Norway.

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Paper provided by European Association of Agricultural Economists in its series 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark with number 24743.

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Date of creation: 2005
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Handle: RePEc:ags:eaae05:24743

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Keywords: agriculture; risk analysis; stochastic programming; stochastic dominance; organic farming; Livestock Production/Industries; Q12; C61;

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Kingwell, R. S., 1994. "Risk attitude and dryland farm management," Agricultural Systems, Elsevier, vol. 45(2), pages 191-202. [Downloadable!] (restricted)
  2. Meyer, Jack, 1977. "Choice among distributions," Journal of Economic Theory, Elsevier, vol. 14(2), pages 326-336, April. [Downloadable!] (restricted)
  3. Pannell, David J. & Malcolm, Bill & Kingwell, Ross S., 2000. "Are we risking too much? Perspectives on risk in farm modelling," Agricultural Economics, Blackwell, vol. 23(1), pages 69-78, June. [Downloadable!] (restricted)
  4. Hardaker, J. Brian & Pandey, Sushil & Patten, Louise H., 1991. "Farm Planning under Uncertainty: A Review of Alternative Programming Models," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 59(01), April. [Downloadable!]
  5. Dupacova, Jitka, 2002. "Applications of stochastic programming: Achievements and questions," European Journal of Operational Research, Elsevier, vol. 140(2), pages 281-290, July. [Downloadable!] (restricted)
  6. Pacini, Cesare & Giesen, Gerard & Wossink, Ada & Omodei-Zorini, Luigi & Huirne, Ruud, 2004. "The EU's Agenda 2000 reform and the sustainability of organic farming in Tuscany: ecological-economic modelling at field and farm level," Agricultural Systems, Elsevier, vol. 80(2), pages 171-197, May. [Downloadable!] (restricted)
  7. J. Brian Hardaker & James W. Richardson & Gudbrand Lien & Keith D. Schumann, 2004. "Stochastic efficiency analysis with risk aversion bounds: a simplified approach," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society and Blackwell Publishing Asia Pty Ltd., vol. 48(2), pages 253-270, 06. [Downloadable!] (restricted)
  8. Hardaker, J. Brian & Patten, Louise H. & Pannell, David J., 1988. "Utility-Efficient Programming For Whole-Farm Planning," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 32(02-03). [Downloadable!]
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  1. Sauer, Johannes & Park, Tim & Graversen, Jesper, 2007. "Organic Farming In Denmark-Productivity, Technical Change And Market Exit," 47th Annual Conference, Weihenstephan, Germany, September 26-28, 2007 7618, German Association of Agricultural Economists (GEWISOLA). [Downloadable!]
  2. Sauer, Johannes & Graversen, Jesper & Park, Tim, 2006. "Breathtaking or Stagnating? - Productivity, Technical Change and Structural Dynamics in Danish Organic Farming," 2006 Annual meeting, July 23-26, Long Beach, CA 21481, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
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