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A Stochastic Dominance Analysis of Alternative Marketing Strategies for Mixed Crop Farms in North Florida

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  • Anaman, Kwabena A.
  • Boggess, William G.

Abstract

Cumulative probability distributions of income for management scenarios involving four preharvest marketing strategies are subjected to stochastic dominance analysis to determine risk-efficient sets of strategies for different groups of farmers in North Florida. Results indicate that farmers should behave differently in their choice of marketing strategies according to their risk attitudes. Highly risk-averse farmers should prefer some forward contracting while low risk-averse and risk-loving farmers should prefer cash sales at harvest. Use of the futures markets leads to both higher income and greater risk than forward contracting but lower income and risk than cash sales.

Suggested Citation

  • Anaman, Kwabena A. & Boggess, William G., 1986. "A Stochastic Dominance Analysis of Alternative Marketing Strategies for Mixed Crop Farms in North Florida," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 18(2), pages 257-266, December.
    • Handle: RePEc:cup:jagaec:v:18:y:1986:i:02:p:257-266_00
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    Cited by:

    1. T. P. Zacharias & D. A. Zaunbrecher & H. D. Traylor & B. E. McManus, 1987. "An analysis of preharvest soybean marketing strategies in louisiana using forward and futures contracts," Agribusiness, John Wiley & Sons, Ltd., vol. 3(4), pages 413-426.
    2. Goh, Siew & Shih, Chao-Chyuan & Cochran, Mark J. & Raskin, Rob, 1989. "A Generalized Stochastic Dominance Program For The Ibm Pc," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 21(2), pages 1-8, December.
    3. Cochran, Mark J., 1986. "Stochastic Dominance: The State Of The Art In Agricultural Economics," Regional Research Projects > 1986: S-180 Annual Meeting, March 23-26, 1986, Tampa, Florida 271995, Regional Research Projects > S-180: An Economic Analysis of Risk Management Strategies for Agricultural Production Firms.

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