Risk Efficiency and Cost Effects of Geographic Diversification

Gilbert Nartea and Peter J. Barry

Review of Agricultural Economics, 1994, vol. 16, issue 3, 341-351

Abstract: This study uses survey data and deterministic simulation to analyze the effects of geographic diversification in central Illinois on the variance of farm rates of return, and on transportation, monitoring, and other operating costs. Results indicate that risk reduction from geographic dispersion in Illinois is relatively small, and is more than offset by increased operating costs. Rather, demand for land for expansion is the major motivation for observed levels of geographic dispersion of farm units.

Date: 1994
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