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Modeling Price and Yield Risk

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A Comprehensive Assessment of the Role of Risk in U.S. Agriculture

Part of the book series: Natural Resource Management and Policy ((NRMP,volume 23))

Abstract

Agricultural producers face a wide array of risks that influence their production and marketing decisions. Though a precise and comprehensive taxonomy may be difficult, risk is typically assumed to originate from the random nature of prices (for both inputs and outputs) and yields (for both animal and plant production). In addition, producers may face other less tangible sources of risk, including those risks associated with liability issues and the potential for capital gains and losses in asset values that may arise from exogenous shocks such as policy changes.1

This research was supported by the North Carolina Agricultural Research Service and Arizona Agricultural Research Service. We are grateful to Shiva Makki, Matt Roberts, and Keith Coble for their helpful comments. Goodwin was at North Carolina State University when this work was completed.

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Authors and Affiliations

  1. The Ohio State University, USA

    Barry K. Goodwin & Alan P. Ker

  2. University of Arizona, USA

    Barry K. Goodwin & Alan P. Ker

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  1. Barry K. Goodwin
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  2. Alan P. Ker
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Editors and Affiliations

  1. University of Maryland, College Park, USA

    Richard E. Just

  2. Brigham Young University, USA

    Rulon D. Pope

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Goodwin, B.K., Ker, A.P. (2002). Modeling Price and Yield Risk. In: Just, R.E., Pope, R.D. (eds) A Comprehensive Assessment of the Role of Risk in U.S. Agriculture. Natural Resource Management and Policy, vol 23. Springer, Boston, MA. https://doi.org/10.1007/978-1-4757-3583-3_14

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  • DOI: https://doi.org/10.1007/978-1-4757-3583-3_14

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