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A Case Study of Timeliness in the Selection of Risk-Efficient Machinery Complements

Published online by Cambridge University Press:  09 September 2016

Michael E. Wetzstein ,
Wesley N. Musser ,
Ronald W. McClendon  and
David M. Edwards
Michael E. Wetzstein
Affiliation:
Department of Agricultural Economics at the, University of Georgia
Wesley N. Musser
Affiliation:
Department of Agricultural Economics at, Pennsylvania State University
Ronald W. McClendon
Affiliation:
Department of Agricultural Engineering at the, University of Georgia
David M. Edwards
Affiliation:
Model Development at Dun and Bradstreet
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Abstract

The importance of timeliness is investigated in the selection of machinery complements for double-crop wheat and soybean production in the southeastern coastal plain. An intertemporal stochastic simulation model was developed to generate probability distributions that were evaluated with stochastic dominance analysis. This research investigated the importance of intertemporal production linkages and inadequate soil moisture on machinery selection. Failure to include these dimensions can result in erroneous machinery choices.

Keywords

double-croppingwheatsoybeansstochastic simulation
Type
Articles
Information
Journal of Agricultural and Applied Economics , Volume 22 , Issue 2 , December 1990 , pp. 165 - 177
Copyright
Copyright © Southern Agricultural Economics Association 1990

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