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Spatial Diversification by Beef Producers in the Clarence Region

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  • Trebeck, David B.

Abstract

A simulation model was constructed to ascertain the extent of benefits from spatial diversification when an intensive form of use is assumed for the additional (alluvial) land. Although expected profit increased and coefficient of variation decreased, the return to additional capital was only 2.7 per cent. Spatial diversification successfully overcomes winter-spring feed uncertainties, but appears economically doubtful under present assumptions. Some alternatives and modifications are suggested which, although untested, might improve the economics of diversification.

Suggested Citation

  • 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), pages 1-11, September.
    • Handle: RePEc:ags:remaae:9576
    DOI: 10.22004/ag.econ.9576
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    References listed on IDEAS

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    1. Officer, R.R. & Anderson, Jock R., 1968. "Risk, Uncertainty and Farm Management Decisions," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 36(01), pages 1-17, March.
    2. Allan N. Rae, 1971. "Stochastic Programming, Utility, and Sequential Decision Problems in Farm Management," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 53(3), pages 448-460.
    3. Allan N. Rae, 1971. "An Empirical Application and Evaluation of Discrete Stochastic Programming in Farm Management," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 53(4), pages 625-638.
    4. Anderson, Jock R., 1970. "A Case Study of Spatial Diversification of Pastoral Sheep Holdings," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 38(03), pages 1-5, September.
    5. R. R. Officer & A. N. Halter, 1968. "Utility Analysis in a Practical Setting," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 50(2), pages 257-277.
    6. Campbell, Keith O., 1966. "Problems Of Adaptation Of Pastoral Businesses In The Arid Zone," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 10(1), pages 1-13, June.
    7. K. D. Cocks, 1968. "Discrete Stochastic Programming," Management Science, INFORMS, vol. 15(1), pages 72-79, September.
    8. Earl O. Heady, 1952. "Diversification in Resource Allocation and Minimization of Income Variability," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 34(4), pages 482-496.
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    1. Trebeck, David B. & Hardaker, J. Brian, 1972. "The Integrated Use Of Simulation And Stochastic Programming For Whole Farm Planning Under Risk," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 16(2), pages 1-12, August.
    2. Throsby, C.D., 1973. "New Methodologies in Agricultural Production Economics: a Review," 1973 Conference, August 19-30, 1973, São Paulo, Brazil 181385, International Association of Agricultural Economists.

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