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Risk preference and optimal crop combinations in upland Java, Indonesia: an application of stochastic programming

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  • Teruaki Nanseki
  • Yoshinori Morooka

Abstract

A stochastic programming model was used to evaluate the economic performance of a soybean‐based farming system in upland Java. The model incorporates farmers' risk preferences, revenue fluctuations and resources restrictions. The results show that (1) changes in risk preference do affect the optimal crop combination, and (2) the typical cropping pattern is rational under the present level of the farmers' risk preference estimated in the study site.

Suggested Citation

  • Teruaki Nanseki & Yoshinori Morooka, 1991. "Risk preference and optimal crop combinations in upland Java, Indonesia: an application of stochastic programming," Agricultural Economics, International Association of Agricultural Economists, vol. 5(1), pages 39-58, January.
    • Handle: RePEc:bla:agecon:v:5:y:1991:i:1:p:39-58
    DOI: 10.1111/j.1574-0862.1991.tb00134.x
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    Cited by:

    1. Heidelbach, Olaf, 2007. "Efficiency of selected risk management instruments: An empirical analysis of risk reduction in Kazakhstani crop production," Studies on the Agricultural and Food Sector in Transition Economies, Leibniz Institute of Agricultural Development in Transition Economies (IAMO), volume 40, number 92323.
    2. Lien, Gudbrand & Hardaker, J. Brian & Asseldonk, Marcel A.P.M. van & Richardson, James W., 2009. "Risk programming and sparse data: how to get more reliable results," Agricultural Systems, Elsevier, vol. 101(1-2), pages 42-48, June.
    3. Ahumada, Omar & Villalobos, J. Rene, 2009. "Application of planning models in the agri-food supply chain: A review," European Journal of Operational Research, Elsevier, vol. 196(1), pages 1-20, July.
    4. Koide, Junji & Yokoyama, Shigeki & Hirouchi, Shinji & Hirose, Chikako & Oka, Naoko & Oda, Masato & Yanagihara, Seiji, 2021. "Exploring climate-resilient and risk-efficient cropping strategies using a new pond irrigation system: An experimental study in northern Ghana," Agricultural Systems, Elsevier, vol. 191(C).

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