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The integrated use of simulation and stochastic programming for whole farm planning under risk

Author:
Trebeck, David B., Hardaker, J. Brian
Source:
Australian journal of agricultural and resource economics 1972 v.16 no.2 pp. 115-126
ISSN:
1364-985X
Subject:
beef, linear programming, models, risk, whole farm planning
Abstract:
Methods of whole‐farm planning under risk are briefly reviewed, noting especially associated operational problems. A planning problem relating to spatial diversification of beef production in the Clarence region of N.S.W. is investigated using a model comprising both simulation and linear programming components. It is concluded that such composite models are valuable for the analysis of sequential stochastic decision processes not presently amenable to solution by stochastic programming alone.
Agid:
505340