The Agricultural Risk Management Simulator Microcomputer Program
The Agricultural Risk Management Simulator (ARMS) is a microcomputer program designed to help users evaluate strategies for managing yield and price risk in crop farming operations. Risk management strategies are defined by choices regarding crop mix, the purchase of multiple peril crop insurance, and the use of forward contracting. Probabilistic budgeting is used to determine the net cash flow probability distribution for each strategy considered. Flexibility with regard to both sources of probabilistic information and the form of yield and price probability distributions is a noteworthy feature of the program.
Volume (Year): 20 (1988)
Issue (Month): 02 (December)
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- King, Robert P., 1979. "Operational Techniques for Applied Decision Analysis Under Uncertainty," AAEA Fellows - Dissertations and Theses, Agricultural and Applied Economics Association, number 181951, May.
- King, Robert P. & Fackler, Paul L., 1985. "Probabilistic Price Forecasts Based On Commodity Option Values," Staff Papers 14030, University of Minnesota, Department of Applied Economics.
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