Selected risk programming solutions (i.e., profit maximization, Target-MOTAD, and MOTAD) are tested in an economic environment outside the data set from which they were developed. Specifically, solutions are derived from either a longer 10-year (1965-74) or shorter 6-year estimation period...

Risk has long been recognized as potentially important in determining agricultural supply. However, supply response models have either incorporated risk in an ad hoc manner or not at all. A rational expectations supply response model incorporating price risk is developed, an estimation procedure...

The risk effects of irrigation scheduling in a sub-humid climate have been well documented recently using approximations of the variance of net returns. A method to determine the exact variance of net returns assuming only multivariant normality is presented. The approximation technique in...

Although apparently preferred by farmers to direct hedging as a forward pricing mechanism, forward contracting has received little attention in the literature dealing with optimal forward pricing levels. An often-cited reason for producer preference for forward contracting is the absence of...

Numerous studies have analyzed annual crop mix decisions in light of producer risk preferences. Few studies have focused on perennial crop mix decisions. This study attempts to identify not only the optimal mix of grapefruit and oranges for various risk-aversion levels, but also optimal planting...

Agricultural lenders have a stake in and are in a position to influence their borrowers' management decisions. Risk management practice adoption is an area in which lenders might want to exercise this influence. This study employs logistic statistical models to estimate lenders' influence on...

Farm level risk analyses have used price and yield variability almost exclusively to represent risk. Results from a survey of 149 agricultural producers in 12 states indicate that producers consider a broader range of sources of variability in their operations. Significant differences exist...