文章基本信息

标题：OPTIMAL POST-HARVEST GRAINS STORAGE BY RISK AVERSE FARMERS
本地全文：下载
作者：Lai, Jing-Yi ; Myers, Robert J. ; Hanson, Steven D. 等
期刊名称：Journal of Agribusiness
印刷版ISSN：0738-8950
出版年度：2001
期号：suppl
出版社：Journal of Agribusiness
摘要：Most previous research on post-harvest grain storage by farmers has assumed risk-neutral behavior and/or made restrictive assumptions about underlying price probability distributions. In this study we solve the optimal post-harvest storage problem for a risk averse farmer under more general assumptions about underlying price distributions. The resulting model is applied to Michigan corn farmers and results show that, contrary to the sell all-or-nothing risk-neutral rule, risk averse farmers will spread sales out over the storage season. The optimal pattern for sales by Michigan corn farmers is to sell approximately 50% of corn at harvest in November (a risk-reduction strategy) and approximately 40% in May (a return-enhancing strategy).