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Risk Analysis Of Adopting Zero Runoff Subirrigation Systems In Greenhouse Operations: A Monte Carlo Simulation Approach

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  • Uva, Wen-fei L.
  • Weiler, Thomas C.
  • Milligan, Robert A.
  • Albright, Louis D.
  • Haith, Douglas A.

Abstract

Zero runoff subirrigation (ZRS) technology can effectively manage fertilizer input while improving greenhouse production efficiency. However, high capital investment costs and inadequate technical information to growers are impediments for adoption. A Monte Carlo simulation was used to compare the profitability and risks of alternative ZRS system investments for greenhouse operations in the northeastern and north central United States. Results showed that the Dutch movable tray system and the flood floor system were most profitable and least risky for small potted plant and bedding crop flat production, respectively. The trough bench system was least favorable because its profitability was low and highly volatile.

Suggested Citation

  • Uva, Wen-fei L. & Weiler, Thomas C. & Milligan, Robert A. & Albright, Louis D. & Haith, Douglas A., 2000. "Risk Analysis Of Adopting Zero Runoff Subirrigation Systems In Greenhouse Operations: A Monte Carlo Simulation Approach," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 29(2), pages 1-11, October.
    • Handle: RePEc:ags:arerjl:31297
    DOI: 10.22004/ag.econ.31297
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    References listed on IDEAS

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    1. Stathacos, Charles J. & White, Gerald B., 1981. "An Economic Analysis of New York Greenhouse Enterprises," Research Bulletins 181690, Cornell University, Department of Applied Economics and Management.
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    Cited by:

    1. Asci, Serhat & VanSickle, John J. & Cantliffe, Daniel J., 2014. "Risk in Investment Decision Making and Greenhouse Tomato Production Expansion in Florida," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 17(4), pages 1-26, November.
    2. Asci, Serhat & VanSickle, John J. & Cantliffe, Daniel J., 2013. "The Potential for Greenhouse Tomato Production Expansion in Florida," 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida 143095, Southern Agricultural Economics Association.

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      Keywords

      Risk and Uncertainty;

      Statistics

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