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The Sensitivity of Interfarm Comparisons to Inaccuracies of Measurement and Valuation

Author

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  • Mauldon, Roger G.
  • Schapper, Henry P.

Abstract

This paper discusses accuracy of recording, allocating and valuing in the context of comparisons between farms of efficiency ratios and gross margins. Some experiments were conducted to investigate the effects on rank orderings of livestock gross margins of (i) different allocations of failures to reconcile between recorded sources and recorded uses of livestock, and (ii) of random changes in valuations of livestock. The outcome of the experiments suggests that inaccuracies which occur in farm recording, allocating and valuing can lead to wrong classifications of farms into groups for comparative purposes.

Suggested Citation

  • Mauldon, Roger G. & Schapper, Henry P., 1971. "The Sensitivity of Interfarm Comparisons to Inaccuracies of Measurement and Valuation," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 39(02), June.
  • Handle: RePEc:ags:remaae:9568
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    File URL: http://purl.umn.edu/9568
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    References listed on IDEAS

    as
    1. Adler, Michael, 1969. "On the Risk-Return Trade-off in the Valuation of Assets," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 4(04), pages 493-512, December.
    2. N. H. Agnew & R. A. Agnew & J. Rasmussen & K. R. Smith, 1969. "An Application of Chance Constrained Programming to Portfolio Selection in a Casualty Insurance Firm," Management Science, INFORMS, vol. 15(10), pages 512-520, June.
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    Cited by:

    1. Mullen, J. D., 2002. "Farm Management In The 21st Century," 2002 Conference (46th), February 13-15, 2002, Canberra 174072, Australian Agricultural and Resource Economics Society.
    2. Mullen, J.D., 2002. "Farm Management In The 21st Century," Australasian Agribusiness Review, University of Melbourne, Melbourne School of Land and Environment, vol. 10.
    3. Malcolm, Bill, 1990. "Fifty Years of Farm Management in Australia: Survey and Review," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 58(01), April.

    More about this item

    Keywords

    Farm Management;

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