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Management Strategies For Indonesian Small-Holder Rubber Production In South Sumatra: A Bioeconomic Analysis

Author

Listed:
  • Purnamasari, Ririn S.
  • Cacho, Oscar J.
  • Simmons, Phil

Abstract

A simplified version of the BEAM Rubber Agroforestry Model is embedded in a dynamic economic model to examine the impact of uncertainty about prices and climate on decision variables. Solutions, in terms of optimal levels for decision variables are found using a Monte Carlo stochastic framework. These solutions were used to derive risk-efficient frontiers corresponding to different levels of the decision variables. The results underline the importance of including uncertainty in dynamic bioeconomic systems since profits under uncertainty turned out to be quite different from those obtained with prices and climate assumed to be constant.

Suggested Citation

  • Purnamasari, Ririn S. & Cacho, Oscar J. & Simmons, Phil, 1999. "Management Strategies For Indonesian Small-Holder Rubber Production In South Sumatra: A Bioeconomic Analysis," Working Papers 12936, University of New England, School of Economics.
    • Handle: RePEc:ags:uneewp:12936
    DOI: 10.22004/ag.econ.12936
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    References listed on IDEAS

    as
    1. Neher,Philip A., 1990. "Natural Resource Economics," Cambridge Books, Cambridge University Press, number 9780521311748.
    2. Cacho, O. J. & Bywater, A. C. & Dillon, J. L., 1999. "Assessment of production risk in grazing models," Agricultural Systems, Elsevier, vol. 60(2), pages 87-98, May.
    3. Grist, P. & Menz, Kenneth M. & Thomas, 1998. "Modified BEAM Rubber Agroforestry Models: RRYIELD and RRECON," Technical Reports 113817, Australian Centre for International Agricultural Research.
    Full references (including those not matched with items on IDEAS)

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    Keywords

    Production Economics; Risk and Uncertainty;

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