IDEAS home Printed from https://ideas.repec.org/a/oup/ajagec/v47y1965i3p595-610..html
   My bibliography  Save this article

Alternative Programming Models Involving Uncertainty

Author

Listed:
  • William C. Merrill

Abstract

A multiperiod linear programming model, a stochastic programming model, and a "linear team" programming model are investigated to determine how they can be applied to a farm planning problem and how widely the optimal farm plans obtained from these models differ when actual data are used. Each model takes into account both time and uncertainty. Using data for an average farm in Yolo County, California, it is found that the optimal solutions obtained from these three models are not greatly different. The differences which do exist between optimal solutions can generally be traced to cash shortages. This result is partly due to the degree of diversification "forced" on the farmer by government production controls and recommended conservation practices as well as the wide differences that exist among the profitability of the activities considered.

Suggested Citation

  • William C. Merrill, 1965. "Alternative Programming Models Involving Uncertainty," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 47(3), pages 595-610.
    • Handle: RePEc:oup:ajagec:v:47:y:1965:i:3:p:595-610.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.2307/1236275
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. El-Shazly, Fawzy A. & Mansour, Mahmoud E. E. & Ahmed, Mousa A. & Shehata, Emad A., 2009. "التركيب المحصولى المصرى فى ظل المخاطرة والمتغيرات المحلية والدولية [Egyptian Cropping Pattern Under Risk and Varying Domestic and International Circumstances]," MPRA Paper 42634, University Library of Munich, Germany, revised 04 Oct 2009.
    2. Kolajo, Ebenezer F. & Martin, Neil R., Jr., 1987. "Farm Firm Decisions Modeling: A Methodological Evaluation Of Alternative Farm Growth Modeling Approaches," 1987 Annual Meeting, August 2-5, East Lansing, Michigan 269948, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. McCarl, Bruce A., 1986. "Innovations In Programming Techniques For Risk Analysis," Regional Research Projects > 1986: S-180 Annual Meeting, March 23-26, 1986, Tampa, Florida 271825, Regional Research Projects > S-180: An Economic Analysis of Risk Management Strategies for Agricultural Production Firms.
    4. Jensen, Harald R., 1977. "PART I. Farm Management and Production Economics, 1946-70," AAEA Monographs, Agricultural and Applied Economics Association, number 337213, january.
    5. Rae, Allan N., 1970. "Capital Budgeting, Intertemporal Programming Models, With Particular Reference To Agriculture," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 14(1), pages 1-14, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:ajagec:v:47:y:1965:i:3:p:595-610.. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://edirc.repec.org/data/aaeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.