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Stochastic utility-efficient programming of organic dairy farms

Flaten, Ola and Lien, Gudbrand (2007) Stochastic utility-efficient programming of organic dairy farms. European Journal of Operational Research, 181 (3), pp. 1574-1583.

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Online at: doi:10.1016/j.ejor.2005.11.053

Summary

Opportunities to make sequential decisions and adjust activities as a season progresses and more information becomes available characterise the farm management process. In this paper, we present a discrete stochastic two-stage utility efficient programming model of organic dairy farms, which includes risk aversion in the decision maker’s objective function as well as both embedded risk (stochastic programming with recourse) and non-embedded risk (stochastic programming without recourse). Historical farm accountancy data and subjective judgements were combined to assess the nature of the uncertainty that affects the possible consequences of the decisions. The programming model was used within a stochastic dominance framework to examine optimal strategies in organic dairy systems in Norway.


EPrint Type:Journal paper
Keywords:Agriculture; Risk analysis; Stochastic programming; Stochastic dominance; Organic farming; Økorisk
Subjects: Animal husbandry > Production systems > Dairy cattle
Crop husbandry > Production systems > Pasture and forage crops
Farming Systems > Farm economics
Food systems > Policy environments and social economy
Knowledge management > Research methodology and philosophy
Research affiliation: Norway > NILF - Norwegian Agricultural Economics Research Institute
ISSN:0377-2217
Deposited By: Flaten, Dr. Ola
ID Code:17785
Deposited On:21 Oct 2010 11:35
Last Modified:21 Oct 2010 11:37
Document Language:English
Status:Published
Refereed:Peer-reviewed and accepted

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