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

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  • Minviel, Jean Joseph
  • Benoit, Marc

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.

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  • Minviel, Jean Joseph & Benoit, Marc, 2022. "Economies of diversification and stochastic dominance analysis in French mixed sheep farms," Agricultural and Resource Economics Review, Cambridge University Press, vol. 51(1), pages 156-177, April.
    • Handle: RePEc:cup:agrerw:v:51:y:2022:i:1:p:156-177_8
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    Cited by:

    1. Mosnier, Claire & Boukhriss, Sanae & Minviel, Jean-Joseph, 2023. "Does pig production improves cattle farm sustainability in the French massif central? A hierarchical constrained directional benefit-of-the-doubt approach," Agricultural Systems, Elsevier, vol. 210(C).
    2. Rami V. Tabri & Mathew J. Elias, 2024. "Testing for Restricted Stochastic Dominance under Survey Nonresponse with Panel Data: Theory and an Evaluation of Poverty in Australia," Papers 2406.15702, arXiv.org.

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