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Irrigation And Potential Diversification Benefits In Humid Climates

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  • Vandeveer, Lonnie R.
  • Paxton, Kenneth W.
  • Lavergne, David R.

Abstract

Income variability and means for managing risk continue to receive much attention in farm management research. In this paper, irrigation is presented as a risk-management strategy that offers potential diversification benefits. Potential diversification opportunities largely result from a wider range of enterprise production activities. A portfolio analysis of dryland and irrigated farm scenarios indicates that income stabilizing and diversification effects of irrigation substantially modify the risk-return position of a typical farm in northeast Louisiana. Safety-first considerations along with Target MOTAD programming procedures also are used to evaluate the impact of irrigation on the farm's financial performance.

Suggested Citation

  • Vandeveer, Lonnie R. & Paxton, Kenneth W. & Lavergne, David R., 1989. "Irrigation And Potential Diversification Benefits In Humid Climates," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 21(2), pages 1-8, December.
    • Handle: RePEc:ags:sojoae:30106
    DOI: 10.22004/ag.econ.30106
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    References listed on IDEAS

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    1. Hatch, L. Upton & Hardy, William E., Jr. & Rochester, Eugene W. & Johnson, Gregory C., 1985. "Optimal Irrigation Pivot Location On Irregularly Shaped Fields," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 17(2), pages 1-8, December.
    2. Boggess, William G. & Anaman, Kwabena A. & Hanson, Gregory D., 1985. "Importance, Causes, and Management Responses to Farm Risks: Evidence From Florida and Alabama," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 17(2), pages 105-116, December.
    3. Boggess, William G. & Anaman, Kwabena A. & Hanson, Gregory D., 1985. "Importance, Causes, And Management Responses To Farm Risks: Evidence From Florida And Alabama," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 17(2), pages 1-12, December.
    4. Hatch, L. Upton & Hardy, William E. & Rochester, Eugene W. & Johnson, Gregory C., 1985. "Optimal Irrigation Pivot Location on Irregularly Shaped Fields," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 17(2), pages 163-170, December.
    5. Myles J. Watts & Larry J. Held & Glenn A. Helmers, 1984. "A Comparison of Target MOTAD to MOTAD," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 32(1), pages 175-186, March.
    6. Boggess, W. G. & Lynne, G. D. & Jones, J. W. & Swaney, D. P., 1983. "Risk-Return Assessment of Irrigation Decisions in Humid Regions," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 15(1), pages 135-143, July.
    7. Boggess, William G. & Lynne, Gary D. & Jones, James W. & Swaney, D.P., 1983. "Risk-Return Assessment Of Irrigation Decisions In Humid Regions," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 15(1), pages 1-9, July.
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    Cited by:

    1. Dillon, Carl R., 1999. "Production Practice Alternatives For Income And Suitable Field Day Risk Management," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 31(2), pages 1-15, August.
    2. Paoletti, J. Mitchell & Shortridge, Julie E., 2020. "Improved representation of uncertainty in farm-level financial cost-benefit analyses of supplemental irrigation in humid regions," Agricultural Water Management, Elsevier, vol. 239(C).
    3. Harris, Thomas R. & Seung, Chang K. & Narayanan, Rangesan, 2001. "Targeting Economic Diversification: An Application of Target MOTAD Procedures," The Review of Regional Studies, Southern Regional Science Association, vol. 31(2), pages 197-215, Fall.

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