A Practical Way to Select an Optimum Farm Plan Under Risk
- 1 November 1972
- journal article
- Published by Wiley in American Journal of Agricultural Economics
- Vol. 54 (4_Part_1) , 657-660
- https://doi.org/10.2307/1238545
Abstract
This paper uses quadratic programming to calculate the variance‐efficient mean income path and associated lower income bounds and suggests a way to select an optimum farm plan under risk based on the farmer's own self‐assessed income‐risk preference function. An empirical example from a Midwest corn‐soybean farm is presented.Keywords
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