Choice of Optimal Planting and Marketing Decisions for Fresh Vegetable Producers: A Mathematical Programming Approach
AbstractThis study combines whole farm economic analysis with biophysical simulation techniques in order to achieve a twofold objective. First, the study seeks to develop a multiple enterprise vegetable farm model with a production and marketing decision interface and, second, to determine optimal production practices for Kentucky vegetable growers. Three vegetable crops are examined: tomatoes, bell peppers and sweet corn. The findings indicate that the risk associated with vegetable production can be significantly mitigated with diversification of production mix and with a greater number of transplanting dates. However, this reduction in risk comes at a high cost in terms of expected net returns.
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Bibliographic InfoPaper provided by Southern Agricultural Economics Association in its series 2012 Annual Meeting, February 4-7, 2012, Birmingham, Alabama with number 120016.
Date of creation: 2012
Date of revision:
vegetable production; mean-variance; biophysical simulation; farm management; Farm Management; C61; C63; D81;
Find related papers by JEL classification:
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
- C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
This paper has been announced in the following NEP Reports:
- NEP-AGR-2012-02-08 (Agricultural Economics)
- NEP-ALL-2012-02-08 (All new papers)
- NEP-CMP-2012-02-08 (Computational Economics)
- NEP-MKT-2012-02-08 (Marketing)
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