This study exemplifies the first implementation experiences of Balanced Scorecard and the first results of them in Ukrainian agricultural enterprises. Essential prerequisites for the functioning of the BSC concept into practical agriculture will be discussed. Finally, some critical success...

Opportunities to make sequential decisions and adjust activities as a season progresses and more information becomes available characterize the farm management process. In this paper, we present a discrete stochastic two-stage utility efficient programming model of organic dairy farms, which...

Farmers who produce multiple outputs are portfolio managers in the sense that they use inputs to balance expected economic return and variance of return. This paper estimates the structure of the stochastic multi-output production technology in Norwegian dairy farming, allowing for a more...

Agriculture and aquaculture have common features associated with their biological nature affecting risk exposure of the businesses. The aim of this paper is to compare risk exposure in salmon farming and agricultural enterprises in Norway by using an implicit error component model to examine the...

The paper proposes developing a trade model for salmon to assist in discussions and negotiations of current international salmon trade issues and major risk problems facing the salmon industry. Two modeling approaches are discussed: 1) developing a traditional equilibrium trade programming model...

Because relevant historical data for farms are inevitably sparse, most risk programming studies rely on few observations. We discuss how to use available information to derive an appropriate multivariate distribution function that can be sampled for a more complete representation of the possible...

A method of stochastic dominance analysis with respect to a function (SDRF) is described and illustrated. The method, called stochastic efficiency with respect to a function (SERF), orders a set of risky alternatives in terms of certainty equivalents for a specified range of attitudes to risk....

Evaluating the risk of a particular decision depends on the risk aversion of the decision maker related to the underlying utility function. The objective of this paper is to use stochastic efficiency with respect to a function (SERF) to compare the ranking of risky alternatives using alternative...

The effect of subsidies on farm production has been a major topic in agricultural economics for several decades. We present a new approach for analyzing the effects of different types of coupled and decoupled subsidies on farm production with econometric methods. In contrast to most previous...