MINIMIZING EXPECTED DISEQUILIBRIUM COSTS WITH UNCERTAIN PRODUCTION AND UTILIZATION

M. Dean Ethridge and Fred C. White

No 284544, 1974 Annual Meeting, August 18-21, College Station, Texas from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: A theoretical framework is developed for optimizing planted acreage under yield and utilization uncertainties, the objective·function being expected disequilibrium cost. Empirical application is demonstrated for peanut seed acreage in Georgia. Results indicate usefulness of the methodology for dealing with uncertainties in matching agricultural crop supplies with demands.

Keywords: Risk; and; Uncertainty (search for similar items in EconPapers)
Pages: 19
Date: 1974-08
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea74:284544

DOI: 10.22004/ag.econ.284544

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