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Full-Text Articles in Data Science

Effects Of Tactical Responses And Risk Aversion On Farm Wheat Supply, Ross S. Kingwell Apr 1995

Effects Of Tactical Responses And Risk Aversion On Farm Wheat Supply, Ross S. Kingwell

Natural Resources Research Articles

A discrete stochastic programming model of the farming system of the eastern wheatbelt of Western Australia is used to examine the effect of tactical responses and risk aversion on wheat supply. Including within-season tactical changes to wheat areas decreases the own-price elasticity of supply. By contrast, introducing risk aversion has no consistent effect on the own-price elasticity of supply. The implications for supply models are discussed.