Incorporating Government Program Provisions into a Mean-Variance Framework

E-V studies traditionally have relied on historical data to calculate returns and variance. Historical data may not fully reflect current conditions, particularly when decisions involve government-supported crops. This paper presents a method for calculating mean and variance using subjectively-esti...

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Veröffentlicht in:Journal of agricultural and applied economics 1989-12, Vol.21 (2), p.95-105
Hauptverfasser: Perry, Gregory M., Rister, M. Edward, Richardson, James W., Bessler, David A.
Format: Artikel
Sprache:eng
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Zusammenfassung:E-V studies traditionally have relied on historical data to calculate returns and variance. Historical data may not fully reflect current conditions, particularly when decisions involve government-supported crops. This paper presents a method for calculating mean and variance using subjectively-estimated data. The method is developed for both government-supported and non-program crops. Comparisons to alternative methods suggest the approach provides reasonable accuracy.
ISSN:1074-0708
0081-3052
2056-7405
0081-3052
DOI:10.1017/S0081305200001217