Expected Utility Analysis of Stocker Cattle Ownership Versus Contract Grazing in the Southeast

Autor:	Randall D. Little, Charlie S. Forrest, John D. Anderson, Curt Lacy
Rok vydání:	2004
Předmět:	Economics and Econometrics Labour economics Agricultural science animal diseases parasitic diseases Grazing Business contracts expected utility grazing stocker calves Q0 L1 Agricultural and Biological Sciences (miscellaneous) health care economics and organizations Expected utility hypothesis
Zdroj:	Journal of Agricultural and Applied Economics. 36:719-730
ISSN:	2056-7405 1074-0708
DOI:	10.1017/s1074070800026973
Popis:	Stocker cattle ownership is compared to contract grazing using stochastic simulation. Returns are evaluated for both cattle owners and caretakers in contract grazing agreements. For caretakers, contract grazing is significantly less risky than cattle ownership. Slightly to moderately risk-averse caretakers could be expected to prefer some type of contract grazing to direct ownership of cattle. For cattle owners, contracting reduces risk only slightly while significantly reducing expected returns.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::59f3a93f9e654f2019954adf9383d97c https://doi.org/10.1017/s1074070800026973 Zobrazit plný text záznamu