1887

n Agrekon - Stochastic efficiency optimisation of alternative agricultural water use strategies

Volume 45, Issue 4
  • ISSN : 0303-1853
  • E-ISSN: 2078-0400
  • Author B. Grove
  • Source : Agrekon, Volume 45, Issue 4, Dec 2006, p. 406 - 420
  • Accreditation : Arts and Humanities Citation Index (Web of Science (WoS) Core Collection)
    The International Bibliography of Social Sciences (IBSS)
This article is unavailable for purchase outside of Africa

 

Abstract

Mathematical programming was used to optimise utility efficient deficit irrigation schedules for maize in Vaalharts, based on certainty equivalence assuming an exponential utility function. Total gross margin risk resulting from production risk of alternative deficit irrigation practices was quantified using an irrigation simulation model and stochastic budgeting procedures. Results showed that the portfolio of irrigation schedules for a risk averse farmer may include schedules with high production risk, due to the interaction of resource use between alternatives when water is limited. Owing to the difficulty of implementing the best portfolio of irrigation schedules, the optimised schedules may best be used to benchmark the efficiency of second best alternatives that are easier to implement. Ignoring risk may underestimate the value decision-makers attach to the security of water supply and policy-makers should take cognisance of this result.

Loading full text...

Full text loading...

Loading

Article metrics loading...

/content/agrekon/45/4/EJC18349
2006-12-01
2020-09-26

This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error