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Various risks affect the income and the welfare of farm households. A large number of strategies are available to deal specifically with income risk. They exist against a general background of widespread government intervention that modifies the ...
After all the research on agricultural risk to date, the treatment of risk in agricultural research is far from harmonious. Many competing risk models have been proposed. Some new methodologies are largely untested. Some of the leading empirical methodologies in agricultural economic research are poorly suited for problems with aggregate data where risk averse behavior is less likely to be important. This book is intended to (i) define the current state of the literature on agricultural risk research, (ii) provide a critical evaluation of economic risk research on agriculture to date and (iii) set a research agenda that will meet future needs and prospects. This type of research promises to become of increasing importance because agricultural policy in the United States and elsewhere has decidedly shifted from explicit income support objectives to risk-related motivations of helping farmers deal with risk. Beginning with the 1996 Farm Bill, the primary set of policy instruments from U.S. agriculture has shifted from target prices and set aside acreage to agricultural crop insurance. Because this book is intended to have specific implications for U.S. agricultural policy, it has a decidedly domestic scope, but clearly many of the issues have application abroad. For each of the papers and topics included in this volume, individuals have been selected to give the strongest and broadest possible treatment of each facet of the problem. The result is this comprehensive reference book on the economics of agricultural risk.
Any farming operation is also a business, and because of the nature of agricultural production, that business and its operators are susceptible to risk. Production can be affected by weather and drought, income can be affected by market prices and shifts, government can impinge and farmers can be injured; they all affect the farm business. Areas covered in this book include: * The farm business structure * Weather and drought * Long and short term market fluctuations * Assets and borrowing * Government intervention and exchange rates * Risks to farm operators * Information reliability. Finally the agricultural manager is assisted to analyse their own operation, to plan how best to meet the problems of the farm business. Mike Krause has over 14 years experience as a professional rural economist and has worked extensively with farmers and fruit growers, helping to identify techniques that will help improve farmer profits. Mike has recently joined an international company called Agricultural Risk Management Pty. Ltd (ARM). This company specialises in risk analysis and risk management providing the full spectrum of services in risk identification, risk measurement, and insurance based revenue protection risk management in agriculture.
Risk and uncertainty are inescapable factors in agriculture which require careful management. Farmers face production risks from the weather, crop and livestock performance, and pests and diseases, as well as institutional, personal and business risks. This revised third edition of the popular textbook includes updated chapters on theory and methods and contains a new chapter discussing the state-contingent approach to the analysis of production and the use of copulas to better model stochastic dependency. Aiming to introduce agricultural decision making, probability and risk preference, this book is an indispensable guide for students and researchers of agriculture and agribusiness management.
Wiskundige analysemethoden voor het bepalen van financiele risico's in het landbouwbedrijfsbeheer