Approximately optimal carryover levels for wheat in the United States
Publication
, Journal Article
Taylor, CR; Talpaz, H
Published in: American Journal of Agricultural Economics
January 1, 1979
This paper presents results of stochastic simulations of adherence to a first-period first-order certainty equivalence decision rule for approximately optimal wheat stocks in the United States. The decision rule is obtained by maximizing a first-order approxi mation of the discounted sum of expected producers' plus consumers' surplus less storage costs over a long-time horizon. For comparative purposes, stochastic simulations of the present system for holding stocks are also given in the paper. Stock levels under the present system were found to be higher than the certainty equivalence stock levels. © 1978 by the American Agricultural Economics Association.
Duke Scholars
Published In
American Journal of Agricultural Economics
DOI
EISSN
1467-8276
ISSN
0002-9092
Publication Date
January 1, 1979
Volume
61
Issue
1
Start / End Page
32 / 40
Related Subject Headings
- Agricultural Economics & Policy
- 1402 Applied Economics
Citation
APA
Chicago
ICMJE
MLA
NLM
Taylor, C. R., & Talpaz, H. (1979). Approximately optimal carryover levels for wheat in the United States. American Journal of Agricultural Economics, 61(1), 32–40. https://doi.org/10.2307/1239497
Taylor, C. R., and H. Talpaz. “Approximately optimal carryover levels for wheat in the United States.” American Journal of Agricultural Economics 61, no. 1 (January 1, 1979): 32–40. https://doi.org/10.2307/1239497.
Taylor CR, Talpaz H. Approximately optimal carryover levels for wheat in the United States. American Journal of Agricultural Economics. 1979 Jan 1;61(1):32–40.
Taylor, C. R., and H. Talpaz. “Approximately optimal carryover levels for wheat in the United States.” American Journal of Agricultural Economics, vol. 61, no. 1, Jan. 1979, pp. 32–40. Scopus, doi:10.2307/1239497.
Taylor CR, Talpaz H. Approximately optimal carryover levels for wheat in the United States. American Journal of Agricultural Economics. 1979 Jan 1;61(1):32–40.
Published In
American Journal of Agricultural Economics
DOI
EISSN
1467-8276
ISSN
0002-9092
Publication Date
January 1, 1979
Volume
61
Issue
1
Start / End Page
32 / 40
Related Subject Headings
- Agricultural Economics & Policy
- 1402 Applied Economics