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Economies of diversification and stochastic dominance analysis in French mixed sheep farms

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  • Jean-Joseph Minviel

    (UMRH - Unité Mixte de Recherche sur les Herbivores - UMR 1213 - VAS - VetAgro Sup - Institut national d'enseignement supérieur et de recherche en alimentation, santé animale, sciences agronomiques et de l'environnement - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

  • Marc Benoit

    (UMRH - Unité Mixte de Recherche sur les Herbivores - UMR 1213 - VAS - VetAgro Sup - Institut national d'enseignement supérieur et de recherche en alimentation, santé animale, sciences agronomiques et de l'environnement - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

Abstract

Farm diversification is mainly driven by risk mitigation effects and economic gains related to complementarities between production activities. By combining these two aspects, we investigate diversification economies in a sample of French mixed sheep farming systems and rank these systems using stochastic dominance criteria. Partially diversified systems (Sheep-Grass, Sheep-Crop, Sheep-Landless) and fully diversified systems (Sheep-Grass-Crop-Landless) were evaluated. We find a high degree of diversification diseconomies in the sheep farming systems considered. The results also indicate that the fully diversified system is driven by its risk-reducing effects (including downside risk exposure) and that Sheep-Crop is the dominant system in terms of risk-adjusted returns.

Suggested Citation

  • Jean-Joseph Minviel & Marc Benoit, 2022. "Economies of diversification and stochastic dominance analysis in French mixed sheep farms," Post-Print hal-03522983, HAL.
    • Handle: RePEc:hal:journl:hal-03522983
    DOI: 10.1017/age.2021.26
    Note: View the original document on HAL open archive server: https://hal.inrae.fr/hal-03522983
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