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- Title
Optimizing Seed Acreage: Decision Making with Production and Utilization Uncertainties.
- Authors
Ethridge, M. Dean; White, Fred C.; Kannan, D.
- Abstract
Under yield and utilization uncertainties, optimum planted acreage may be estimated using the concept of disequilibrium costs--those costs incurred when production is not matched with utilization. A model to minimize expected disequilibrium cost is formulated and applied to peanut seed acreage in Georgia. Since larger disequilibrium costs result from underproduction than from overproduction of peanut seed, optimum seed acreage increases substantially when allowances are made for existing yield and utilization uncertainties.
- Subjects
GEORGIA; UNITED States; ACREAGE allotments; ECONOMIC equilibrium; UNCERTAINTY; ECONOMICS
- Publication
American Journal of Agricultural Economics, 1975, Vol 57, Issue 3, p439
- ISSN
0002-9092
- Publication type
Article
- DOI
10.2307/1238406