Risk‐Efficient Irrigation Strategies for Wheat

Sushil Pandey

Agricultural Economics, 1990, vol. 4, issue 1, 59-71

Abstract: Agricultural production is risky. When farmers are risk‐averse, they are likely to put a premium on production methods that reduce perceived risks. Irrigation is generally believed to be a risk‐reducing input. By using the concept of stochastic dominance, risk‐efficient irrigation policies for wheat grown in central India are identified and quantitative estimates of benefits due to risk reduction are obtained. Such benefits were found to be of a large order of magnitude. The more common methods such as mean variance analysis tended to over‐estimate the benefits.

Date: 1990
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