THE INTEGRATED USE OF SIMULATION AND STOCHASTIC PROGRAMMING FOR WHOLE FARM PLANNING UNDER RISK

David B. Trebeck and J. Brian Hardaker

Australian Journal of Agricultural Economics, 1972, vol. 16, issue 2, 12

Abstract: Methods of whole-farm planning under risk are briefly reviewed, noting especially associated operational problems. A planning problem relating to spatial diversification of beef production in the Clarence region of N.S.W. is investigated using a model comprising both simulation and linear programming components. It is concluded that such composite models are valuable for the analysis of sequential stochastic decision processes not presently amenable to solution by stochastic programming alone.

Keywords: Farm; Management (search for similar items in EconPapers)
Date: 1972
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Citations: View citations in EconPapers (16)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:ajaeau:22800

DOI: 10.22004/ag.econ.22800

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