Risk and economic sustainability of crop farming systems

Gudbrand D. Lien, J. Brian Hardaker and Ola Flaten

No 139879, 2006 Conference (50th), February 8-10, 2006, Sydney, Australia from Australian Agricultural and Resource Economics Society

Abstract: Environmental, social, and economic attributes are important for the sustainability of a farming system. Resilience is also important, yet has seldom been directly considered in evaluations of economic sustainability. In economic terms, resilience has to do with the capacity of the farm business to survive in various risks and other shocks. A whole-farm stochastic simulation model over a six-year planning horizon was used to analyse organic and conventional cropping systems using a model of a representative farm in Eastern Norway. The relative sustainability of the systems was examined in terms of terminal financial position.

Keywords: Crop Production/Industries; Environmental Economics and Policy; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 16
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aare06:139879

DOI: 10.22004/ag.econ.139879

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