crop farm. The stochastic simulation model embodied local price and yield distributions, tax policy, and financial …

. Departures of observed data of individual farms from profit maximization objectives were attributed more due to stochastic … stochastic, only 5.3% of the farms violated the joint hypothesis of profit maximization with standard error exceeding 10 …%. Whereas when only input quantities are considered stochastic, a total of 71.73% and 2.09% of the farms had minimum standard …

benchmarking. In stochastic environments, the traditional framework may include stochastically dominated reference units and … meanvariance framework derived from the theory of stochastic dominance. From that framework an extension to the traditional model …