DSSP: A Model of Production and Marketing Decisions on a Midwestern Crop Farm

Harry Kaiser and Jeffrey Apland

Review of Agricultural Economics, 1989, vol. 11, issue 2, 157-169

Abstract: Discrete stochastic sequential programming (DSSP) is a mathematical programming technique that allows for random coefficients in the objective function and constraint set, and a multi-stage decision process. Despite its intuitive appeal, DSSP is often overlooked in empirical research because 1) the size of the programming matrix becomes large as the number of states of nature and stages increases, and 2) the data requirements associated with these models are formidable. The purpose of this article is to document the construction and use of a DSSP model of a Midwestern corn-soybean farm. The model is general in the decision variables and the sources of risk it includes. The costs of using DSSP are decreasing, and such models should be considered seriously for a wide variety of empirical problems.

Date: 1989
References: Add references at CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
http://hdl.handle.net/10.1093/aepp/11.2.157 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:revage:v:11:y:1989:i:2:p:157-169.

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

More articles in Review of Agricultural Economics from Agricultural and Applied Economics Association Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK. Contact information at EDIRC.
Bibliographic data for series maintained by Oxford University Press ( this e-mail address is bad, please contact ) and Christopher F. Baum ().