Growth And Survival In Wheat Farming: The Impact Of Land Expansion And Borrowing Restraints
Simulation is used to examine impacts of land expansion strategies and self-imposed borrowing limits upon growth and survival odds of a dryland wheat farm over a 15-year period. Compared to share-rent expansion, purchasing land shows only marginally great growth at best, with substantially higher odds of firm failure. A tradeoff of enhanced survival at the expense of reduced growth results from more conservative borrowing for land. The marginal value of liquidity (for assisting survival) is relatively high at lower levels of credit reserves.
Volume (Year): 06 (1981)
Issue (Month): 02 (December)
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- A. N. Halter & G. W. Dean, 1965. "Use of Simulation in Evaluating Management Policies under Uncertainty: Application to a Large Scale Ranch," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 47(3), pages 557-573.
- Anderson, Jock R., 1974. "Simulation: Methodology and Application in Agricultural Economics," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 42(01), March.
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