Risk preference and optimal crop combinations in upland Java, Indonesia: an application of stochastic programming

Teruaki Nanseki and Yoshinori Morooka

Agricultural Economics, 1991, vol. 5, issue 1, 39-58

Abstract: A stochastic programming model was used to evaluate the economic performance of a soybean‐based farming system in upland Java. The model incorporates farmers' risk preferences, revenue fluctuations and resources restrictions. The results show that (1) changes in risk preference do affect the optimal crop combination, and (2) the typical cropping pattern is rational under the present level of the farmers' risk preference estimated in the study site.

Date: 1991
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