Staff Publications

Staff Publications

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    'Staff publications' is the digital repository of Wageningen University & Research

    'Staff publications' contains references to publications authored by Wageningen University staff from 1976 onward.

    Publications authored by the staff of the Research Institutes are available from 1995 onwards.

    Full text documents are added when available. The database is updated daily and currently holds about 240,000 items, of which 72,000 in open access.

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Record number 372047
Title Risk programming and sparse data: how to get more reliable results
Author(s) Hardaker, J.B.; Lien, G.; Asseldonk, M.A.P.M. van; Richardson, W.; Hegrenes, A.
Event 12th Congress of the European Association of Agricultural Economists, 2008-08-26/2008-08-29
Department(s) Business Economics
Publication type Contribution in proceedings
Publication year 2008
Abstract Because relevant historical data for farms are inevitably sparse, most risk programming studies rely on few observations. We discuss how to use available information to derive an appropriate multivariate distribution function that can be sampled for a more complete representation of the possible risks in riskbased models. For the particular example of a Norwegian mixed livestock and crop farm, the solution is shown to be unstable with few states, although the cost of picking a sub-optimal plan declines with increases in number of states by Latin Hypercube sampling.
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