Risk Analysis with Single‐Index Portfolio Models: An Application to Farm Planning

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Abstract
Sharpe's 1963 single‐index portfolio model, the separation theorem, and a solution method suggested by Elton, Gruber, and Padberg are adapted in this paper to the farm diversification problem. The objectives are to develop risk measures, based on single‐index parameters and computationally simple methods for farm risk planning, that are suitable for microcomputers and modern hand‐held calculators. The intent is to produce a normative model with possible extension applications.

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