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Evaluating Use of Outlook Information in Grain Sorghum Storage Decisions

Published online by Cambridge University Press:  28 April 2015

M. Edward Rister
Affiliation:
Texas A&M University
Jerry R. Skees
Affiliation:
University of Kentucky
J. Roy Black
Affiliation:
Michigan State University

Abstract

This study examines grain sorghum storage decisions in the Texas Coastal Bend region. Decisions involving use and non-use of outlook information are compared using stochastic dominance criteria. Results indicate outlook information is of value to most classes of decisionmakers. The value of outlook information, however, is contingent upon producers' risk preferences. The methodology presented could be used to evaluate a more extensive set of marketing strategies for grain sorghum as well as for other crops.

Type
Submitted Articles
Copyright
Copyright © Southern Agricultural Economics Association 1984

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