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Incorporating Environmental Uncertainties In A Ranch Simulation

Author

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  • VanTassell, L. W.
  • Richardson, J. W.
  • Conner, J. R.

Abstract

Cattle producers' risk ensuing from uncertain environmental conditions was quantified using a stochastic simulation model. The ability of three grazing strategies (yearlong continuous, deferred rotational, and rotational) to increase the success and survivability of ranches were evaluated. Results indicated the traditional yearlong continuous strategy was most desirable for ranchers in all risk aversion categories.

Suggested Citation

  • VanTassell, L. W. & Richardson, J. W. & Conner, J. R., 1987. "Incorporating Environmental Uncertainties In A Ranch Simulation," 1987 Annual Meeting, August 2-5, East Lansing, Michigan 269979, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea87:269979
    DOI: 10.22004/ag.econ.269979
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    References listed on IDEAS

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    1. John R. Franzmann & Rodney L. Walker, 1972. "Trend Models of Feeder, Slaughter, and Wholesale Beef Cattle Prices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 54(3), pages 507-512.
    2. Taylor, C. Robert, 1984. "A Flexible Method For Empirically Estimating Probability Functions," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 9(1), pages 1-11, July.
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    Cited by:

    1. Ethridge, Don E. & Zhang, Ping & Dahl, Bill E. & Ervin, R. Terry & Rushemeza, Justin, 1990. "Cattle Ranching Production And Marketing Strategies Under Combined Price And Weather Risks," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 15(2), pages 1-11, December.
    2. Fausti, Scott W. & Johnson, Brad & Epperson, William & Grathwohl, Nancy, 2003. "Risk and the Economic Incentive to Retain Ownership of Steer Calves," Economics Staff Papers 32023, South Dakota State University, Department of Economics.

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