Crop–Livestock Diversification and Efficiency in Agriculture

Jay Parsons and Maroua Afi

No 413276, Cornhusker Economics from University of Nebraska-Lincoln, Department of Agricultural Economics

Abstract: Diversification is a familiar strategy for managing risk in agriculture. It can take several forms including growing more than one crop or operating a farm with both crop and livestock enterprises. As with other strategies for managing risk, diversification comes with a unique set of costs. Managing a farm with multiple enterprises creates additional overhead as well as additional demands on management, labor, land, capital, and other resources. Diversification adds complexity to an operation and too much complexity can lead to inefficiencies.

Keywords: Livestock; Production/Industries (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ags:nbaece:413276

DOI: 10.22004/ag.econ.413276

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