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An E-V Analysis of Beef Calf Backgrounding Systems in Georgia

Published online by Cambridge University Press:  28 April 2015

Wesley N. Musser ,
W. D. Shurley  and
F. W. Williams
Wesley N. Musser
Affiliation:
Department of Agricultural Economics, University of Georgia University of Minnesota
W. D. Shurley
Affiliation:
Department of Agricultural Economics, University of Georgia
F. W. Williams
Affiliation:
Department of Agricultural Economics, University of Georgia
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Extract

Markowitz developed the theoretical background for analysis of investments in reference to the mean and variance of returns of the portfolio of all investments (E-V analysis). Subsequently, Freund adapted the E-V model to farm enterprise decisions, and agricultural economists have applied this model to various agricultural firm problems. The studies of Kliebenstein and Scott, Brink and McCarl, Heifner, Buccola and French, and Raikes, Sieck, and Miller are examples of applications to farm enterprise organization, farm commodity marketing, and procurement of farm commodities by agribusiness firms. These studies are concerned largely with either production or marketing decisions; applications to joint production and marketing decisions are more limited. Exceptions include Whitson, Barry, and Lacewell's study of vertical integration and Barry and Willmann's analysis of forward contracting. In addition, Lütgen and Helmers and Persuad and Mapp recently analyzed a limited number of marketing alternatives in conjunction with different enterprise alternatives.

Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 12 , Issue 2 , December 1980 , pp. 37 - 42
Copyright
Copyright © Southern Agricultural Economics Association 1980

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