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Title: Management strategies for Indonesian rubber production under yield and price uncertainty: a bioeconomic analysis
Contributor(s): Purnamasari, R (author); Cacho, Oscar Jose  (author)orcid ; Simmons, Phillip Ray  (author)
Publication Date: 2002
DOI: 10.1023/A:1015080728895
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Abstract: A simplified version of the BEAM Rubber Agroforestry Model is embedded in a dynamic economic model to examine the impact of uncertainty about prices and climate on decision variables. Solutions, in terms of optimal levels for decision variables are found using a Monte Carlo stochastic framework. These solutions were used to derive risk-efficient frontiers corresponding to different levels of the decision variables. The results underline the importance of including uncertainty in dynamic bioeconomic systems since profits under uncertainty turned out to be quite different from those obtained with prices and climate assumed to be constant.
Publication Type: Journal Article
Source of Publication: Agroforestry Systems, 54(2), p. 121-135
Publisher: Kluwer Academic Publishers
Place of Publication: Amsterdam, The Netherlands
ISSN: 1572-9680
Field of Research (FOR): 140201 Agricultural Economics
Peer Reviewed: Yes
HERDC Category Description: C1 Refereed Article in a Scholarly Journal
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