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

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  • 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
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    References listed on IDEAS

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    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.
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    Keywords

    Farm Management; Risk and Uncertainty;

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