IDEAS home Printed from
   My bibliography  Save this article

Incorporating Safety-First Constraints In Linear Programming Production Models


  • Atwood, Joseph A.
  • Watts, Myles J.
  • Helmers, Glenn A.
  • Held, Larry J.


A recent survey indicated that many procedures view risk in a safety-first context. Traditional methods used to impose safety-first constraints in optimization models have often been difficult to implement. This is particularly true when endogenous decisions affect the distribution of the chance-constrained random variable. This paper presents a method whereby probabilistic constraints can be easily imposed upon finitely discrete random variables. The procedure uses a linear version of the lower partial moment stochastic inequality. The resulting solutions are somewhat conservative but are less so than the results using the previously published mean income-absolute deviation stochastic inequality.

Suggested Citation

  • Atwood, Joseph A. & Watts, Myles J. & Helmers, Glenn A. & Held, Larry J., 1988. "Incorporating Safety-First Constraints In Linear Programming Production Models," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 13(01), July.
  • Handle: RePEc:ags:wjagec:32152

    Download full text from publisher

    File URL:
    Download Restriction: no

    References listed on IDEAS

    1. Takayama,Akira, 1985. "Mathematical Economics," Cambridge Books, Cambridge University Press, number 9780521314985, May.
    Full references (including those not matched with items on IDEAS)


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Matthews, Nicolette & Grove, Bennie, 2015. "Economic-Environmental Trade-offs and the Conservativeness of the Upper Partial Moment," 2015 Conference, August 9-14, 2015, Milan, Italy 212450, International Association of Agricultural Economists.


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:wjagec:32152. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.