Stochastic Technology in a Programming Framework: A Generalized E. V. Model

Rashid M. Hassan, Arne Hallam () and B. D'Silva

No 270212, 1988 Annual Meeting, August 1-3, Knoxville, Tennessee from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Production uncertainty is important in studying the behavior of risk averse firms and the making of successful agricultural policies. A model which extends the E-V method to incorporate stochastic technology in a programming framework is developed. Risk effects of factor inp~ts are measured for the irrigated multi-crop sector of Sudan. Supply responses of agricultural producers are more elastic when factor inputs are allowed to influence production risks.

Keywords: Agricultural and Food Policy; Production Economics; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 21
Date: 1988-08-01
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea88:270212

DOI: 10.22004/ag.econ.270212

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