IDEAS home Printed from https://ideas.repec.org/p/ags/ifma91/346142.html
   My bibliography  Save this paper

The Use of Stochastic Dominance to Analyse Risk of Conservation and Conventional Tillage Systems

Author

Listed:
  • Hough, J.
  • Groenewald. J.A.

Abstract

Seven different tillage systems(including conservation and conventional practices) were identified and analysed by determining yield and net margin effects. The conservation tillage systems performed on average 111% better than the conventional systems in respect of net margins per R100 of capital invested. The risks involved in the seven tillage systems as regards yield, net margins and net margins per R100 of capital invested were analysed and ranked using stochastic dominance (SD). First-order and second-order SD showed conservation systems to be less risky than conventional systems and produced sufficient dominance to exercise choices. Third-order SD did not provide any additional dominance results. Rank shifts between net margins and net margins per R100 of capital invested occurred.

Suggested Citation

  • Hough, J. & Groenewald. J.A., 1991. "The Use of Stochastic Dominance to Analyse Risk of Conservation and Conventional Tillage Systems," 8th Congress, New Zealand, 4-9 February 1991 346142, International Farm Management Association.
  • Handle: RePEc:ags:ifma91:346142
    DOI: 10.22004/ag.econ.346142
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/346142/files/IFMA8_014.pdf
    Download Restriction: no

    File URL: https://libkey.io/10.22004/ag.econ.346142?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Anderson, Jock R., 1974. "Risk Efficiency in the Interpretation of Agricultural Production Research," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 42(03), pages 1-54, September.
    2. Stapelberg, J.S. & Van Zyl, J., 1989. "Die optimale vervanging van trekkers in die RSA landbou," 1989 Annual Conference, September 25-27, Bloemfontein, South Africa 314748, Agricultural Economics Association of South Africa (AEASA).
    3. Jolly, Robert W. & Edwards, William M. & Erbach, Donald C., 1983. "Economics of Conservation Tillage in Iowa," Staff General Research Papers Archive 11064, Iowa State University, Department of Economics.
    Full references (including those not matched with items on IDEAS)

    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. Hardaker, J. B., 1982. "Fundamental Aspects Of Risk And Uncertainty In Agriculture," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 21(2), October.
    2. Mjelde, James W. & Dixon, Bruce L. & Sonka, Steven T., 1989. "Estimating The Value Of Sequential Updating Solutions For Intrayear Crop Management," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 14(01), pages 1-8, July.
    3. Gleason, W.J. & Zacharias, T.P. & Lange, M.D. & Traylor, H.D., 1986. "A Production Cross-Hedge for Long and Medium Grain Rough Rice Using Soft Red Winter Wheat Futures," 1986 Annual Meeting, July 27-30, Reno, Nevada 278404, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    4. Mill, Stephen J. & Longworth, John W., 1975. "Stochastic-Computerized-Activity-Budgeting For Sheep Enterprises," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 19(2), pages 1-11, August.
    5. Carlson, Gerald A., 1979. "Variability and Market Indicators of Breeding Values," 1979 Annual Meeting, July 29-August 1, Pullman, Washington 278294, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    6. Farquharson, Robert J., 1991. "A Farm Level Evaluation of a New Twinning Technology in Beef Cattle," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 59(01), pages 1-21, April.
    7. van Zyl, J. & Groenewald, J. A., 1986. "A Comparison Of Certain Decision-Making Techniques Under Risk - An Empirical Investigation Of Maize Cultivar Selection," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 25(01), February.
    8. McCown, R.L. & Carberry, P.S. & Dalgliesh, N.P. & Foale, M.A. & Hochman, Z., 2012. "Farmers use intuition to reinvent analytic decision support for managing seasonal climatic variability," Agricultural Systems, Elsevier, vol. 106(1), pages 33-45.
    9. Drynan, Ross G., 1987. "Sufficient Conditions for Dominance of Simply Related Prospects," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 55(01), pages 1-12, April.
    10. Drynan, Ross G., 1986. "A Note On Optimal Rules For Stochastic Efficiency Analysis," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 30(01), pages 1-10, April.
    11. Johnson, Frank & Spreen, Thomas H. & Hewitt, Timothy, 1987. "A Stochastic Dominance Analysis of Contract Grazing Feeder Cattle," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 19(2), pages 11-19, December.
    12. Singh, U. & Tsuji, G.Y. & Beinroth, F.H., 1990. "Applications Of Decision Support System For Agrotechnology Transfer In Present Day Agriculture," 26th Annual Meeting, July 29 to August 4, 1990, Mayaguez, Puerto Rico 259362, Caribbean Food Crops Society.
    13. 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.
    14. Anderson, Jock R., 2006. "Drought: Economic Consequences and Policies for Mitigation Global Overview," 2006 Annual Meeting, August 12-18, 2006, Queensland, Australia 25347, International Association of Agricultural Economists.
    15. Scott Johnson, C. & Foster, Kenneth A., 1994. "Risk Preferences and Contracting In the U.S. Hog Industry," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 26(2), pages 393-405, December.
    16. Kramer, Randall A., 1983. "Crop Insurance as a Strategy for Agricultural Development," 1983 Occasional Paper Series No. 3 197300, International Association of Agricultural Economists.
    17. Jock R. Anderson & William E. Griffiths, 1982. "Production Risk And Efficient Allocation Of Resources," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 26(3), pages 226-232, December.
    18. Miller, Gay Y. & Rosenblatt, Joseph M. & Batte, Marvin T., 1991. "A General Method of.Stochastic Dominance Techniques for Evaluating Management Strategies, with an Application to Mastitis Control," 1991 Annual Meeting, August 4-7, Manhattan, Kansas 271080, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    19. Walker, Odell L. & Nelson, A. Gene, 1980. "Dealing With Risks In The Management Agricultural Firms: An Extension/Teaching Viewpoint," Risk Analysis in Agriculture: Research and Educational Developments, January 16-18, 1980, Tucson, Arizona 271561, Regional Research Projects > W-149: An Economic Evaluation of Managing Market Risks in Agriculture.
    20. Lambert, Dayton M. & Lowenberg-DeBoer, James, 2001. "Optimal Row Width For Corn And Soybean," Staff Papers 28681, Purdue University, Department of Agricultural Economics.

    More about this item

    Keywords

    Farm Management; Risk and Uncertainty;

    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:ags:ifma91:346142. 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: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/ifmaaea.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.