Hostname: page-component-78c5997874-s2hrs Total loading time: 0 Render date: 2024-11-04T19:46:15.109Z Has data issue: false hasContentIssue false

A Portfolio Approach to Landscape Plant Production and Marketing

Published online by Cambridge University Press:  28 April 2015

David L. Purcell
Affiliation:
The University of Georgia, Athens, Georgia
Steven C. Turner
Affiliation:
The University of Georgia, Athens, Georgia
Jack Houston
Affiliation:
The University of Georgia, Athens, Georgia
Charles Hall
Affiliation:
Texas A&M University, College Station, Texas

Abstract

The ornamental horticultural industry continues to be one of the most rapidly expanding sectors in agriculture. This study examined a decision model for landscape plant production based on portfolio analysis. A quadratic programming model was developed to generate an optimal crop portfolio for a selected southeastern nursery. Empirical results indicate opportunities exist for modest diversification to offset income variability in landscape plant production and marketing.

Type
Articles
Copyright
Copyright © Southern Agricultural Economics Association 1993

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Aylesworth, J., and Gartner, J. B.. “The Seven Costs of Ornamental Production.American Nurserymen. 135(2):11-12, 116122. 1972.Google Scholar
Badenhop, M. B., Einert, A. E., and S-103 Technical Committee. “Factors Affecting Production Costs and Returns for Flowering Dogwood.” Southern Cooperative Series Bulletin Number 246. 1980.Google Scholar
Brooke, A., Kendrick, D., and Meeraus, A.. “GAMS, A User's Guide.” 1988. The Scientific Press. The International Bank for Reconstruction and Development. The World Bank.Google Scholar
Camm, B. M.Risk in Vegetable Production on a Fen Farm.Farm Economist. 10(1963):8998.Google Scholar
Dickerson, H. L., Badenhop, M. B., and Day, J. W.. “Cost of Producing and Marketing Rooted Cuttings of Three Woody Ornamentals Species in Tennessee.” University of Tennessee Agricultural Experiment Station Bulletin. Number 624. 1983.Google Scholar
Hall, C. R.A Linear Programming Model for Determining Optimal Product Mix and Monthly Cash Flows for Container-Grown Ornamentals.” PhD Dissertation. Mississippi State. 1988.Google Scholar
Hall, C. R., Phillips, T. D., Newman, S. E., and Laiche, A. J.. “Update of Production Systems and Cost of Production Estimates for Container-Grown Landscape Plants, Climatic Zones 8 and 9, 1987.” Agricultural Economics Research Report 176. Mississippi Agricultural and Forestry Experiment Station. 1987.Google Scholar
Hall, C. R., Phillips, Travis D., and Stegelin, Forrest. “Optimal Product Mix and Monthly Cash Flows for Container-Grown Landscape Plants in Climatic Zones 8 and 9.” Southern Cooperative Series Bulletin 365. Texas A&M. October 1991.Google Scholar
Hazell, P.B.R.A Linear Alternative to Quadratic and Semivariance Programming for Farm Planning Under Uncertainty.American Journal of Agricultural Economics. 53 (1971):5362.CrossRefGoogle Scholar
Jinkins, John, and Ahern, Mary. “‘Net Value Added' Gauges Farming's Contribution to the Economy.” Agricultural Outlook. May, 1991, p. 2628.Google Scholar
Johnson, D. C.Ornamental Horticulture Crops.” Economic Research Service, USDA. 1989.Google Scholar
Johnson, D.U.S. and World Floriculture Continues Up.” Agricultural Outlook. U.S.D.A., June 1991, p. 32.Google Scholar
Johnson, D.Floriculture - A Growth Industry.” Agricultural Outlook. U.S.D.A., January-February, 1992, p. 25.Google Scholar
Johnson, S. R.A Re-examination of the Farm Diversification Problem.Journal of Farm Economics. 49(1967):610-21.CrossRefGoogle Scholar
Markowitz, H. M.Portfolio Selection.Journal of Finance. 7(1952):7791.Google Scholar
Markowitz, H. M.Portfolio Selection, Efficient Diversification of Investments.” Cowles Foundation Monograph No. 16. New York:Wiley, 1959.Google Scholar
McFarquhar, A. M. M.Rational Decision Making and Risk in Farm Planning - An Application of Quadratic Programming in British Arable Farming.Journal of Agricultural Economics. 14(1961):552-63.CrossRefGoogle Scholar
Musser, W. N., Mapp, H. P. Jr. and Barry, P. J.. “Applications I: Risk Programming.” Risk Management in Agriculture. Chapter 10, Iowa State Press, 1984.Google Scholar
Pyle, D. H. and Turnovsky, S. J.. “Safety-First and Expected Utility Maximization in Mean-Standard Deviation Portfolio Analysis.Review of Economic Studies. 52(1970):7581.Google Scholar
Stovall, J. G.Income Variation and Selection of Enterprises.Journal of Farm Economics. 48(1966): 15751579.CrossRefGoogle Scholar
Tauer, Loren. “Target MOTAD.American Journal of Agricultural Economics. 65 (1983):606610.CrossRefGoogle Scholar
Turner, S. C., and Mixon, B. J.. “A Market Examination of Georgia's Ornamental Plant Industry.” University of Georgia. Agricultural Experiment Station, College of Agriculture. Research Bulletin 593, 1990.Google Scholar