The paper examines the potential of stochastic simulation methods and Earnings at Risk method in risk analysis of farming business. The results revealed a different nature of yield and price risks in agriculture. The natural yields are low spatially correlated and the rate of yield risk depends...

Most of the hydro-economic models used for assessing the environmental impact of agricultural policies are deterministic and can only reflect uncertainties through analyses of scenarios. In this article, we propose a methodology to assess uncertainty using Monte Carlo simulations. Taking three...

Small farms are the largest employment and small business group among the poor. Their businesses use mostly labor and local resources and face local constraints, but at the same time, they are affected by increasingly complex national and global economic changes, which lead to shifts in...

African agriculture's importance for sustainable development is well appreciated. Indeed, recent years have seen a thorough reappraisal of the sector. What are less well understood, however, are the drivers that reallocate scarce human and physical resources across occupations and space, and...