Effects of Tactical Responses and Risk Aversion on Farm Wheat Supply

Ross S. Kingwell

Review of Marketing and Agricultural Economics, 1995, vol. 62, issue 01, 14

Abstract: A discrete stochastic programming model of the farming system of the eastern wheatbelt of Western Australia is used to examine the effect of tactical responses and risk aversion on wheat supply. Including within-season tactical changes to wheat areas decreases the own-price elasticity of supply. By contrast, introducing risk aversion has no consistent effect on the own-price elasticity of supply. The implications for supply models are discussed.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Date: 1995
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:remaae:12393

DOI: 10.22004/ag.econ.12393

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