IDEAS home Printed from https://ideas.repec.org/a/oup/ajagec/v63y1981i3p447-456..html
   My bibliography  Save this article

Evaluating the Food and Agriculture Act of 1977 with Firm Quadratic Risk Programming

Author

Listed:
  • Wesley N. Musser
  • Kostas G. Stamoulis

Abstract

Federal agricultural commodity programs generally have been assumed to reduce the income risk for farm firms, but limited empirical research exists on this proposition. This paper presents a study of the impact of the Food and Agriculture Act of 1977on income risk for a representative farm in Georgia. The model is used to derive an E-V frontier for a firm not participating in the program and for the same firm that is participating in the program. Results indicate that participation dominates nonparticipation except for higher level of expected net income.

Suggested Citation

  • Wesley N. Musser & Kostas G. Stamoulis, 1981. "Evaluating the Food and Agriculture Act of 1977 with Firm Quadratic Risk Programming," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 63(3), pages 447-456.
    • Handle: RePEc:oup:ajagec:v:63:y:1981:i:3:p:447-456.
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.2307/1240535
    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. Maynard, Leigh J. & Harper, Jayson K. & Hoffman, Lynn D., 1997. "Impact Of Risk Preferences On Crop Rotation Choice," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 26(1), pages 1-9, April.
    2. Coady, Sean & Clark, Richard & Schneekloth, Joel & Klocke, Norm & Hergert, Gary, 1991. "Crop Rotations, Program Participation, Net Farm Income and the Food Agriculture, Conservation and Trade Act of 1990," WAEA/ WFEA Conference Archive (1929-1995) 321443, Western Agricultural Economics Association.
    3. Southern Regional Research, 1988. "Modelling Farm Program-Crop Mix Decisions Under Risk: Discussion," Regional Research Projects > 1988: S-180 Annual Meeting, March 20-23, 1988, Savannah, Georgia 272785, Regional Research Projects > S-180: An Economic Analysis of Risk Management Strategies for Agricultural Production Firms.
    4. William T. McSweeny & David E. Kenyon & Randall A. Kramer, 1987. "Toward an Appropriate Measure of Uncertainty in a Risk Programming Model," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 69(1), pages 87-96.
    5. Mims, Anne M. & Duffy, Patricia A. & Young, George, 1988. "Farm Program Participation and Crop Mix Decisions Under Alternative Acreage Restriction Provisions of the 1985 Farm Bill," 1988 Annual Meeting, August 1-3, Knoxville, Tennessee 270327, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    6. Ford, Beth Pride & Musser, Wesley N. & Yonkers, Robert D., 1993. "Measuring Historical Risk in Quarterly Milk Prices," Agricultural and Resource Economics Review, Cambridge University Press, vol. 22(1), pages 20-26, April.
    7. McCarl, Bruce A., 1984. "Model Validation: An Overview with some Emphasis on Risk Models," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 52(03), pages 1-21, December.
    8. Cheng, Mei-luan & Gloy, Brent A., 2008. "The Paradox of Risk Balancing: Do Risk-reducing Policies Lead to More Risk for Farmers?," 2008 Annual Meeting, July 27-29, 2008, Orlando, Florida 6546, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    9. Johan Petersson & Hans Andersson, 1996. "The Benefits Of Share Contracts: Some European Results," Journal of Agricultural Economics, Wiley Blackwell, vol. 47(1‐4), pages 158-171, January.
    10. Mims, Anne M. & Duffy, Patricia A. & Young, George J., 1989. "Effects Of Alternative Acreage Restriction Provisions On Alabama Cotton Farms," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 21(2), pages 1-10, December.
    11. Falatoonzadeh, Hamid & Conner, J. Richard & Pope, Rulon D., 1985. "Risk Management Strategies To Reduce Net Income Variability For Farmers," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 17(1), pages 1-14, July.
    12. Mishra, Ashok K. & El-Osta, Hisham S., 2002. "Risk Management Through Enterprise Diversification: A Farm-Level Analysis," 2002 Annual meeting, July 28-31, Long Beach, CA 19711, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    13. Feinerman, Eli & Shani, Y. & Bresler, E., 1989. "Economic Optimisation Of Sprinkler Irrigation Considering Uncertainty Of Spatial Water Distribution," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 33(2), pages 1-20, August.
    14. Lence, Sergio H., 1996. "Relaxing The Assumptions Of Minimum-Variance Hedging," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 21(1), pages 1-17, July.
    15. Chien, Ming-Che & Leatham, David J., 1994. "The Value Of Planting Flexibility Provisions In The 1990 Farm Bill To Three Representative Texas Farms," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 26(1), pages 1-10, July.
    16. Pederson, Glenn D., 1982. "A Representative Market Model Of Farmland Bid Prices," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(2), pages 1-14, December.
    17. Perry, Gregory M. & Rister, M. Edward & Richardson, James W. & Bessler, David A., 1989. "Incorporating Government Program Provisions Into A Mean-Variance Framework," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 21(2), pages 1-11, December.

    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:63:y:1981:i:3:p:447-456.. 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.