FARM PLANNING, RISK AVERSION, AND THE RETURNS TO ON-FARM STORAGE FACILITIES

W. Donald Shurley and George F. Patrick

No 279457, 1981 Annual Meeting, July 26-29, Clemson, South Carolina from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Risk is incorporated into an annual farm-planning model using the MOTAD framework. The availability of on-farm storage is an important and often forgotten resource constraint in the sensitivity of farm plans. Because farm plans are affected by risk aversion, so is the importance of storage facilities. Study results were highly sensitive to storage capacity and generally show that returns to storage are highest at low farmer risk aversion.

Keywords: Risk; and; Uncertainty (search for similar items in EconPapers)
Pages: 14
Date: 1981-07
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea81:279457

DOI: 10.22004/ag.econ.279457

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