THE AGRICULTURAL RISK MANAGEMENT SIMULATOR MICROCOMPUTER PROGRAM

Robert King, J. Roy Black, Fred J. Benson and Patti A. Pavkov

Southern Journal of Agricultural Economics, 1988, vol. 20, issue 2, 7

Abstract: The Agricultural Risk Management Simulator (ARMS) is a microcomputer program designed to help users evaluate strategies for managing yield and price risk in crop farming operations. Risk management strategies are defined by choices regarding crop mix, the purchase of multiple peril crop insurance, and the use of forward contracting. Probabilistic budgeting is used to determine the net cash flow probability distribution for each strategy considered. Flexibility with regard to both sources of probabilistic information and the form of yield and price probability distributions is a noteworthy feature of the program.

Keywords: Risk; and; Uncertainty (search for similar items in EconPapers)
Date: 1988
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Citations: View citations in EconPapers (5)

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Journal Article: The Agricultural Risk Management Simulator Microcomputer Program (1988)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:sojoae:29259

DOI: 10.22004/ag.econ.29259

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