The Integrated Use Of Simulation And Stochastic Programming For Whole Farm Planning Under Risk
Methods of whole-farm planning under risk are briefly reviewed, noting especially associated operational problems. A planning problem relating to spatial diversification of beef production in the Clarence region of N.S.W. is investigated using a model comprising both simulation and linear programming components. It is concluded that such composite models are valuable for the analysis of sequential stochastic decision processes not presently amenable to solution by stochastic programming alone.
Volume (Year): 16 (1972)
Issue (Month): 02 (August)
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- K. D. Cocks, 1968. "Discrete Stochastic Programming," Management Science, INFORMS, vol. 15(1), pages 72-79, September.
- Trebeck, David B., 1971. "Spatial Diversification by Beef Producers in the Clarence Region," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 39(03), September.