USING NON-CONTEMPORANEOUS DATA TO SPECIFY RISK PROGRAMMING MODELS

Bernard V. Tew, Wesley Musser and G. Scott Smith

Northeastern Journal of Agricultural and Resource Economics, 1988, vol. 17, issue 01, 6

Abstract: Specification of the variance-covariance matrix holds continuing interest for agricultural economists considering risk programming applications. This research examines alternative expected value-variance (E-V) frontiers constructed using contemporaneous and non-contemporaneous data and two statistical assumptions concerning crop prices and yields. Empirical examples from two locations for different crops illustrate the various assumptions. Considerable differences in the E-V efficient frontiers occur in both empirical settings.

Keywords: Risk; and; Uncertainty (search for similar items in EconPapers)
Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:ags:nejare:29066

DOI: 10.22004/ag.econ.29066

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