Farm-planning under risk: An application of decision analysis and portfolio theory for the assessment of crop diversification strategies in horticultural systems

Oscar Burbano-Figueroa, Alexandra Sierra-Monroy, Adriana David-Hinestroza, Cory Whitney, Christian Borgemeister and Eike Luedeling

Agricultural Systems, 2022, vol. 199, issue C

Abstract: Even though diversification of horticultural production systems allows farmers to cope with risks and uncertainties, strategies for raising profitability usually aim to improve the productivity of monocultures rather than pursuing diversification. Horticultural production systems are often highly diversified in terms of land use and planted crops.

Keywords: Decision analysis; Diversification benefits; Probabilistic simulation; Participatory modeling; Portfolio effect; Whole-farm planning (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:agisys:v:199:y:2022:i:c:s0308521x22000452

DOI: 10.1016/j.agsy.2022.103409

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