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Stocks, Bonds, Bills, And Farm Assets: A Portfolio Analysis

Author

Listed:
  • Moss, Charles B.
  • Featherstone, Allen M.
  • Baker, Timothy G.

Abstract

This paper uses a portfolio model to investigate the desirability of agricultural assets in a portfolio including nonfarm investments. The results indicate that agricultural assets are a part of a risk efficient portfolio. One implication of the results is that nonfarm investors may be attracted to the risk return characteristics of farm assets.

Suggested Citation

  • Moss, Charles B. & Featherstone, Allen M. & Baker, Timothy G., 1986. "Stocks, Bonds, Bills, And Farm Assets: A Portfolio Analysis," 1986 Annual Meeting, July 27-30, Reno, Nevada 278487, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea86:278487
    DOI: 10.22004/ag.econ.278487
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    File URL: https://ageconsearch.umn.edu/record/278487/files/aaea-1986-169.pdf
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    References listed on IDEAS

    as
    1. Kroll, Yoram & Levy, Haim & Markowitz, Harry M, 1984. "Mean-Variance versus Direct Utility Maximization," Journal of Finance, American Finance Association, vol. 39(1), pages 47-61, March.
    2. Levy, H & Markowtiz, H M, 1979. "Approximating Expected Utility by a Function of Mean and Variance," American Economic Review, American Economic Association, vol. 69(3), pages 308-317, June.
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    Cited by:

    1. Bjornson, Bruce & Innes, Robert, 1992. "Risk And Return In Agriculture: Evidence From An Explicit-Factor Arbitrage Pricing Model," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 17(2), pages 1-21, December.

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