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Irrigation And Potential Diversification Benefits In Humid Climates

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  • Vandeveer, Lonnie R.
  • Paxton, Kenneth W.
  • Lavergne, David R.

Abstract

Income variability and means for managing risk continue to receive much attention in farm management research. In this paper, irrigation is presented as a risk-management strategy that offers potential diversification benefits. Potential diversification opportunities largely result from a wider range of enterprise production activities. A portfolio analysis of dryland and irrigated farm scenarios indicates that income stabilizing and diversification effects of irrigation substantially modify the risk-return position of a typical farm in northeast Louisiana. Safety-first considerations along with Target MOTAD programming procedures also are used to evaluate the impact of irrigation on the farm's financial performance.

Suggested Citation

  • Vandeveer, Lonnie R. & Paxton, Kenneth W. & Lavergne, David R., 1989. "Irrigation And Potential Diversification Benefits In Humid Climates," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 21(02), December.
  • Handle: RePEc:ags:sojoae:30106
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    File URL: http://purl.umn.edu/30106
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    References listed on IDEAS

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    1. Marcus, Alan J. & Modest, David M., 1986. "The Valuation of a Random Number of Put Options: An Application to Agricultural Price Supports," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 21(01), pages 73-86, March.
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    Cited by:

    1. Harris, Thomas R. & Seung, Chang K. & Narayanan, Rangesan, 2001. "Targeting Economic Diversification: An Application of Target MOTAD Procedures," The Review of Regional Studies, Southern Regional Science Association, vol. 31(2), pages 197-215, Fall.

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    Keywords

    Farm Management;

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