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Small Farm Polyperiod Planning Model For Developing Economies

Published online by Cambridge University Press:  28 April 2015

John R. Allison  and
James E. Epperson
John R. Allison
Affiliation:
Department of Agricultural Economics, University of Georgia College of Agriculture, Georgia Experiment Station
James E. Epperson
Affiliation:
Department of Agricultural Economics, University of Georgia College of Agriculture, Georgia Experiment Station
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Extract

Farm planning in developed economies has reached the sophistication level of involving static and dynamic annual or polyperiod decision models. These models or frameworks range from unadorned linear programming to dynamic systems utilizing interdependence among time spans. Goal or criterion decisions range from unrestricted global profit maxamization to local profit comparisons restricted by risk and other considerations.

Systematic farm planning from the micro to the macro level is common in developed economies because of widespread knowledge of the planning tools and the availability of low-cost computational facilities. The potential increase in profits on large commercial farms makes the use of these planning tools profitable whether the farm unit bears the total cost or Extension Services or lending institutions subsidize their use.

Type
Research Article
Information
Journal of Agricultural and Applied Economics , Volume 12 , Issue 1 , July 1980 , pp. 127 - 133
Copyright
Copyright © Southern Agricultural Economics Association 1980

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