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Profitability Of Alfalfa Hay Storage Using Probabilities: An Extension Approach

Author

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  • Shane, Ronald L.
  • Myer, Gordon L.

Abstract

Film managers are usually faced with making decisions involving risk and uncertainty. A common source of risk and uncertainty is related to price variability. It is possible to attach probabilities to price variability based on historical data, thus providing the manager with additional information to base decisions. The purpose of this study is to develop and present extension information in a form that assists a producer to choose a marketing strategy based on the producer's own risk preference. This was done by developing profitability of percentage rates of return based on historical data. Alfalfa hay is used as the commodity example.

Suggested Citation

  • Shane, Ronald L. & Myer, Gordon L., 1980. "Profitability Of Alfalfa Hay Storage Using Probabilities: An Extension Approach," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 5(2), pages 1-6, December.
    • Handle: RePEc:ags:wjagec:32387
    DOI: 10.22004/ag.econ.32387
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    References listed on IDEAS

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    1. John Holt & Kim B. Anderson, 1978. "Teaching Decision Making under Risk and Uncertainty to Farmers," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 60(2), pages 249-253.
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    Cited by:

    1. Rister, M. Edward & Skees, Jerry R., 1982. "The Value Of Outlook Information In Post-Harvest Marketing Strategies," 1982 Annual Meeting, August 1-4, Logan, Utah 279431, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Rister, M. Edward & Skees, Jerry R. & Black, J. Roy, 1984. "Evaluating Use Of Outlook Information In Grain Sorghum Storage Decisions," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 16(1), pages 1-8, July.

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    Keywords

    Crop Production/Industries;

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