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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 MOT AD 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," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 21(2), pages 167-174, December.
    • Handle: RePEc:cup:jagaec:v:21:y:1989:i:02:p:167-174_00
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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).

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