IDEAS home Printed from https://ideas.repec.org/p/ags/saeaed/6885.html
   My bibliography  Save this paper

Simulation of Alternative Marketing Strategies for U.S. Cotton

Author

Listed:
  • Elrod, Christopher P.
  • Robinson, John R.C.
  • Richardson, James W.

Abstract

Three marketing strategies (selling a put option, cash sale at harvest, and cash sale in June) are simulated based on historical values and ranked based on certainty equivalents for a representative irrigated and dryland cotton farm Scenario analysis is also used to compare varying yield values.

Suggested Citation

  • Elrod, Christopher P. & Robinson, John R.C. & Richardson, James W., 2008. "Simulation of Alternative Marketing Strategies for U.S. Cotton," 2008 Annual Meeting, February 2-6, 2008, Dallas, Texas 6885, Southern Agricultural Economics Association.
    • Handle: RePEc:ags:saeaed:6885
    DOI: 10.22004/ag.econ.6885
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/6885/files/sp08el01.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.6885?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. 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, vol. 48(2), pages 253-270, June.
    2. Richardson, James W. & Klose, Steven L. & Gray, Allan W., 2000. "An Applied Procedure For Estimating And Simulating Multivariate Empirical (Mve) Probability Distributions In Farm-Level Risk Assessment And Policy Analysis," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 32(2), pages 1-17, August.
    3. McCarl, Bruce A., 1988. "Preference Among Risky Prospects Under Constant Risk Aversion," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 20(2), pages 25-34, December.
    4. DeeVon Bailey & James W. Richardson, 1985. "Analysis of Selected Marketing Strategies: A Whole-Farm Simulation Approach," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(4), pages 813-820.
    5. Isabelle Huault & V. Perret & S. Charreire-Petit, 2007. "Management," Post-Print halshs-00337676, HAL.
    6. repec:ags:joaaec:v:32:y:2000:i:2:p:299-315 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lau, Michael H. & Richardson, James W. & Outlaw, Joe L. & Fuller, Stephen W. & Nixon, Clair J. & Herbst, Brian K., 2004. "Location Of A Mixalco Production Facility With Respect To Economic Viability," 2004 Annual meeting, August 1-4, Denver, CO 20025, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Lyman, Nathaniel & Nalley, Lawton Lanier, 2013. "Stochastic Valuation of Hybrid Rice Technology in Arkansas," 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida 142505, Southern Agricultural Economics Association.
    3. Frikkie Maré & Bennie Grové & Johan Willemse, 2017. "Evaluating the long-term effectiveness of crop insurance products to provide cost effective and constant cover for maize producers under stochastic yields and prices," Agrekon, Taylor & Francis Journals, vol. 56(3), pages 233-247, July.
    4. Hristovska, Tatjana & Watkins, K. Bradley & Anders, Merle M., 2012. "An Economic Risk Analysis of No-till Management for the Rice-Soybean Rotation System used in Arkansas," 2012 Annual Meeting, February 4-7, 2012, Birmingham, Alabama 119676, Southern Agricultural Economics Association.
    5. Asci, Serhat & VanSickle, John J. & Cantliffe, Daniel J., 2014. "Risk in Investment Decision Making and Greenhouse Tomato Production Expansion in Florida," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 17(4), pages 1-26, November.
    6. Fumasi, Roland J. & Klose, Steven L. & Kaase, Greg H. & Richardson, James W. & Outlaw, Joe L., 2008. "Viability of cellulosic feedstock production from producer to biorefinery," Integration of Agricultural and Energy Systems Conference, February 12-13, 2008, Atlanta, Georgia 48716, Farm Foundation.
    7. Flanders, Archie & Smith, Nathan & Fonsah, Esendugue & McKissick, John C., 2009. "Simulation Analysis of Double-Cropping Vegetables and Field Crops," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers, vol. 2009, pages 1-10.
    8. Lien, Gudbrand D. & Flaten, Ola & Schumann, Keith D. & Richardson, James W. & Korsaeth, Audun & Eltun, Ragnar, 2005. "Comparison of Risk Between Cropping Systems in Eastern Norway," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24663, European Association of Agricultural Economists.
    9. Asci, Serhat & VanSickle, John J. & Fry, Curtiss J. & Thomas, John, 2015. "Where is Risk in Fumigation Choice: Methyl Bromide versus Alternatives?," 2015 Annual Meeting, January 31-February 3, 2015, Atlanta, Georgia 196862, Southern Agricultural Economics Association.
    10. Williams, Jeffery R. & Llewelyn, Richard V. & Pendell, Dustin L. & Schlegel, Alan J. & Troy, Dumler, 2009. "A Risk Analysis of Converting CRP Acres to a Wheat-Sorghum-Fallow Rotation," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 45985, Southern Agricultural Economics Association.
    11. Ibrahim L. Kadigi & Khamaldin D. Mutabazi & Damas Philip & James W. Richardson & Jean-Claude Bizimana & Winfred Mbungu & Henry F. Mahoo & Stefan Sieber, 2020. "An Economic Comparison between Alternative Rice Farming Systems in Tanzania Using a Monte Carlo Simulation Approach," Sustainability, MDPI, vol. 12(16), pages 1-22, August.
    12. Lien, G. & Stordal, S. & Hardaker, J.B. & Asheim, L.J., 2007. "Risk aversion and optimal forest replanting: A stochastic efficiency study," European Journal of Operational Research, Elsevier, vol. 181(3), pages 1584-1592, September.
    13. Bizimana, Jean-Claude & Richardson, James W., 2018. "Agricultural Technology Assessment for Smallholder Farms in Developing Countries: An Analysis using a Farm Simulation Model (FARMSIM)," 2018 Annual Meeting, February 2-6, 2018, Jacksonville, Florida 266589, Southern Agricultural Economics Association.
    14. Leiva, Akssell J. & Skees, Jerry R., 2008. "Using Irrigation Insurance to Improve Water Usage of the Rio Mayo Irrigation System in Northwestern Mexico," World Development, Elsevier, vol. 36(12), pages 2663-2678, December.
    15. Fan, Yubing & Himanshu, Sushil K. & Ale, Srinivasulu & DeLaune, Paul B. & Zhang, Tian & Park, Seong C. & Colaizzi, Paul D. & Evett, Steven R. & Baumhardt, R. Louis, 2022. "The synergy between water conservation and economic profitability of adopting alternative irrigation systems for cotton production in the Texas High Plains," Agricultural Water Management, Elsevier, vol. 262(C).
    16. Lien, Gudbrand D. & Flaten, Ola & Korsaeth, Audun & Schumann, Keith D. & Richardson, James W. & Eltun, Ragnar, 2005. "Comparison of Risk in Organic, Integrated and Conventional Cropping Systems in Eastern Norway," 15th Congress, Campinas SP, Brazil, August 14-19, 2005 24251, International Farm Management Association.
    17. Asci, Serhat & Konduru, Srini & Williams, Lynn, 2020. "Potential of Solar Energy in Agricultural Production in Caribbean Countries," Farm and Business - The Journal of the Caribbean Agro-Economic Society, Caribbean Agro-Economic Society, vol. 12(1), December.
    18. Richardson, James W. & Lemmer, Wessel J. & Outlaw, Joe L., 2007. "Bio-ethanol Production from Wheat in the Winter Rainfall Region of South Africa: A Quantitative Risk Analysis," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 10(2), pages 1-24.
    19. Watkins, K. Bradley & Mane, Ranjitsinh U. & McClung, Anna, 2018. "Economic Risk Analysis of Rice Cultivars under Organic and Conventional Management," 2018 Annual Meeting, February 2-6, 2018, Jacksonville, Florida 266587, Southern Agricultural Economics Association.
    20. Jack Meyer & James W. Richardson & Keith D. Schumann, 2009. "Stochastic efficiency analysis with risk aversion bounds: a correction," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 53(4), pages 521-525, October.

    More about this item

    Keywords

    Marketing; Research Methods/ Statistical Methods;

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:saeaed:6885. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/saeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.