Dairy Farmer's Valuation of Decreased Market Risk Offered by Cooperatives

Brian A. Roach and Cathy A. Hamlett

No 271240, 1991 Annual Meeting, August 4-7, Manhattan, Kansas from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Dairy farmers often rank the benefits from a secure market as a major reason for belonging to a milk-marketing cooperative. This paper presents a methodology for valuing this decreased market risk by developing a willingness-to-pay measure. Stochastic dominance with respect to a function is used to estimate the willingness-to-pay measure.

Keywords: Livestock Production/Industries; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 14
Date: 1991-08-04
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea91:271240

DOI: 10.22004/ag.econ.271240

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