Risk and Returns of Diversified Cropping Systems under Nonnormal, Cross-, and Autocorrelated Commodity Price Structures

Autor:	Octavio A. Ramirez, Eduardo Somarriba
Jazyk:	angličtina
Rok vydání:	2000
Předmět:	agricultural risk analysis autocorrelation cross-correlation diversified tropical cropping systems multivariate nonnormal simulation Agriculture
Zdroj:	Journal of Agricultural and Resource Economics, Vol 25, Iss 2, Pp 653-668 (2000)
Druh dokumentu:	article
ISSN:	1068-5502 2327-8285
DOI:	10.22004/ag.econ.30901
Popis:	This study analyzes the risks of diversified tropical cropping systems that combine cocoa, plantain, and tree-crop components in different proportions versus traditional monocultures. A technique for modeling the expected values, variances, and covariances of correlated time-series variables that are autocorrelated and nonnormal (right or left skewed and kurtotic) is applied to simulate commodity prices. The importance of using simulated cumulative density functions (CDFs) which reflect the most important characteristics of the stochastic behavior of prices for analyzing risk and returns of diversified agricultural systems is demonstrated. The analysis provides evidence in favor of diversified cocoa-plantain-Cordia agroforestry system technologies versus the traditional monocultures.
Databáze:	Directory of Open Access Journals
Externí odkaz:	https://doaj.org/article/3b05bace113a418a87e334329991361e Zobrazit plný text záznamu View record in DOAJ