IDEAS home Printed from https://ideas.repec.org/a/wly/agribz/v11y1995i2p155-168.html
   My bibliography  Save this article

The new risk environment in California agriculture

Author

Listed:
  • Steven C. Blank

    (Agricultural Economics Department at the University of California, Davis, Davis, CA 95616-8512)

Abstract

A perceived increase in the risk environment of agricultural production in California is found to have significant economic implications. Using a portfolio model, hypotheses are derived concerning the reaction of individual producers to the shift in risk. Survey results indicate that agricultural producers are reacting in a manner consistent with a hypothesized „transition period” that could last several years before a new equilibrium is found. Unfortunately, the timing of this transition may be adding to the recessionary conditions within California's economy. © 1995 by John Wiley & Sons, Inc.

Suggested Citation

  • Steven C. Blank, 1995. "The new risk environment in California agriculture," Agribusiness, John Wiley & Sons, Ltd., vol. 11(2), pages 155-168.
    • Handle: RePEc:wly:agribz:v:11:y:1995:i:2:p:155-168
    DOI: 10.1002/1520-6297(199503/04)11:2<155::AID-AGR2720110208>3.0.CO;2-N
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    References listed on IDEAS

    as
    1. S. R. Johnson, 1967. "A Re-examination of the Farm Diversification Problem," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 49(3), pages 610-621.
    2. Turvey, Calum G. & Baker, Timothy G. & Weersink, Alfons, 1992. "Farm Operating Risk And Cash Rent Determination," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 17(1), pages 1-7, July.
    3. Robert A. Collins & Peter J. Barry, 1986. "Risk Analysis with Single-Index Portfolio Models: An Application to Farm Planning," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 68(1), pages 152-161.
    4. Bernard V. Tew & Donald W. Reid & Giles T. Rafsnider, 1992. "Rational Mean-Variance Decisions for Subsistence Farmers," Management Science, INFORMS, vol. 38(6), pages 840-845, June.
    Full references (including those not matched with items on IDEAS)

    Citations

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


    Cited by:

    1. Meuwissen, Miranda P.M. & Huirne, Ruud B.M. & Hardaker, J. Brian, 1999. "Perceptions Of Risks And Risk Management Strategies; An Analysis Of Dutch Livestock Farmers," 1999 Annual meeting, August 8-11, Nashville, TN 21507, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gempesaw, Conrado M., II & Tambe, A.M. & Nayga, Rodolfo M., Jr. & Toensmeyer, Ulrich C., 1988. "The Single Index Market Model In Agriculture," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 17(2), pages 1-9, October.
    2. Blank, Steven C., 2005. "Hedging with off-farm income: implications for production and investment decisions across farm sizes," 2005 Annual Meeting, July 6-8, 2005, San Francisco, California 291741, Western Agricultural Economics Association.
    3. Blank, Steven C., 1993. "The Robustness Of Single Index Models In Crop Markets: A Multiple Index Model Test: Reply," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 18(1), pages 1-6, July.
    4. Mumey, G.A. & Bauer, L. & Boyda, A., 1988. "An Estimate of Risk and Returns From Cropping Alternatives," Project Report Series 232065, University of Alberta, Department of Resource Economics and Environmental Sociology.
    5. Turvey, Calum G. & Baker, Timothy G., 1990. "A Pedagogic Review of the Efficient Set Mathematics Applied to Farm Operating Risk," Department of Agricultural Economics and Business 258630, University of Guelph.
    6. Turvey, Calum Greig & Kimble, John W. & Baker, Timothy G., 1987. "Efficient Set Mathematics, the Separation Theorem, and Farm Operating Decisions," 1987 Annual Meeting, August 2-5, East Lansing, Michigan 270094, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    7. Turvey, Calum G. & Driver, H.C., 1985. "An Examination of Systematic Risks in Agriculture: A Farm Sector Capital Asset Pricing Model," 1985 Annual Meeting, August 4-7, Ames, Iowa 278553, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    8. Brent A. Gloy & Timothy G. Baker, 2002. "The Importance of Financial Leverage and Risk Aversion in Risk-Management Strategy Selection," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(4), pages 1130-1143.
    9. David A. Hennessy, 2006. "On Monoculture and the Structure of Crop Rotations," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 88(4), pages 900-914.
    10. Collins, Robert A., 1993. "The Robustness Of Single Index Models In Crop Markets: A Multiple Index Model Test: Comment," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 18(1), pages 1-4, July.
    11. Bao-Li Miao & Ying Liu & Yu-Bing Fan & Xue-Jiao Niu & Xiu-Yun Jiang & Zeng Tang, 2023. "Optimization of Agricultural Resource Allocation among Crops: A Portfolio Model Analysis," Land, MDPI, vol. 12(10), pages 1-18, October.
    12. Asci, Serhat & VanSickle, John J. & Cantliffe, Daniel J., 2014. "Risk in Investment Decision Making and Greenhouse Tomato Production Expansion in Florida," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 17(4), pages 1-26, November.
    13. Miller, Matthew Edward, 2003. "An economic perspective on Iowa farm diversification in the twentieth century," ISU General Staff Papers 2003010108000018194, Iowa State University, Department of Economics.
    14. MacEwan, Duncan & Howitt, Richard E., 2012. "Behavioral Salinity Response: Estimating Salinity Policies from Remote Sensed Micro-Data," 2012 Conference (56th), February 7-10, 2012, Fremantle, Australia 124331, Australian Agricultural and Resource Economics Society.
    15. K. C. Schaefer, 1992. "A Portfolio Model For Evaluating Risk In Economic Development Projects, With An Application To Agriculture In Niger," Journal of Agricultural Economics, Wiley Blackwell, vol. 43(3), pages 412-423, September.
    16. Song, Nianfu & Chang, Sun Joseph & Aguilar, Francisco X., 2011. "U.S. softwood lumber demand and supply estimation using cointegration in dynamic equations," Journal of Forest Economics, Elsevier, vol. 17(1), pages 19-33, January.
    17. Sylvia, Gilbert & Tuininga, Chris & Larkin, Sherry L., 2003. "Portfolio Analysis for Optimal Seafood Product Diversification and Resource Management," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 28(2), pages 1-20, August.
    18. Loren Tauer, 2002. "Estimating risk‐adjusted interest rates for dairy farms," Agricultural Finance Review, Emerald Group Publishing Limited, vol. 62(1), pages 59-68, May.
    19. 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).
    20. Anderson, Jock R., 1975. "Programming For Efficient Planning Against Non-Normal Risk," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 19(2), pages 1-14, August.

    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:wly:agribz:v:11:y:1995:i:2:p:155-168. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Wiley Content Delivery (email available below). General contact details of provider: http://onlinelibrary.wiley.com/journal/10.1002/(ISSN)1520-6297 .

    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.