A PORTFOLIO MODEL FOR EVALUATING RISK IN ECONOMIC DEVELOPMENT PROJECTS, WITH AN APPLICATION TO AGRICULTURE IN NIGER

Kurt Schaefer ()

Journal of Agricultural Economics, 1992, vol. 43, issue 3, 412-423

Abstract: After a literature review, a planning and project evaluation model is developed that includes both risk and profit considerations but avoids some weaknesses of other mean‐variance models. Agricultural extension and project evaluation results of an application of this model are compared to those of the common profit‐maximisation model. The two sets of results differ on the worth of intercropping, the relative merits of raising small ruminants and cattle, the likelihood of success of a major livestock development programme (which would benefit only wealthier farmers), the benefits of introducing labour‐saving technologies, and the value of teaching/demonstration components in the projects being evaluated.

Date: 1992
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https://doi.org/10.1111/j.1477-9552.1992.tb00235.x

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Persistent link: https://EconPapers.repec.org/RePEc:bla:jageco:v:43:y:1992:i:3:p:412-423

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