Analysis of Selected Marketing Strategies: A Whole‐Farm Simulation Approach
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A detailed whole-farm simulation model capable of simulating stochastic daily cash and futures prices was used to evaluate alternative marketing strategies for a Texas High Plains cotton farm over a ten-year planning horizon. Stochastic dominance with respect to a function was used to rank the alternative marketing strategies for risk-averse and risk-neutral producers. Results indicated that risk-averse producers would prefer hedge and hold marketing strategies over discretionary hedging strategies. Sellers' call contracting was not highly preferred by either risk-neutral or risk-averse producers. © 1985 American Agricultural Economics Association.
author list (cited authors)
Bailey, D., & Richardson, J. W.
complete list of authors
Bailey, DeeVon||Richardson, James W