A Stochastic Dominance Analysis of Alternative Marketing Strategies for Mixed Crop Farms in North Florida

1986 ◽  
Vol 18 (2) ◽  
pp. 257-266 ◽  
Author(s):  
Kwabena A. Anaman ◽  
William G. Boggess
Keyword(s):  
Stochastic Dominance ◽  
Futures Markets ◽  
Probability Distributions ◽  
Marketing Strategies ◽  
Cumulative Probability ◽  
Risk Averse ◽  
Management Scenarios ◽  
Dominance Analysis ◽  
Mixed Crop ◽  
Forward Contracting

AbstractCumulative probability distributions of income for management scenarios involving four preharvest marketing strategies are subjected to stochastic dominance analysis to determine risk-efficient sets of strategies for different groups of farmers in North Florida. Results indicate that farmers should behave differently in their choice of marketing strategies according to their risk attitudes. Highly risk-averse farmers should prefer some forward contracting while low risk-averse and risk-loving farmers should prefer cash sales at harvest. Use of the futures markets leads to both higher income and greater risk than forward contracting but lower income and risk than cash sales.

Stochastic dominance and mean-standard deviation analysis: some critical issues

1995 ◽  
Vol 46 (7) ◽  
pp. 1487 ◽  
Author(s):  
KA Parton ◽  
PS Carberry
Keyword(s):  
Standard Deviation ◽  
Stochastic Dominance ◽  
Probability Distributions ◽  
Dominance Analysis ◽  
Deviation Analysis ◽  
Critical Issues ◽  
Effective Procedures

Stochastic dominance and mean-standard deviation analysis can be effective procedures for ranking risky alternatives that are expressed in terms of probability distributions of outcomes. However, the conditions applying to their use and their limitations need to be understood. These are set out in the paper, together with an extension that overcomes some constraints to the use of stochastic dominance analysis.

scholarly journals Futures Markets and Firm Decisions Under Price, Production, and Financial Uncertainty

1986 ◽  
Vol 18 (2) ◽  
pp. 39-50 ◽  
Author(s):  
Vickie J. Alexander ◽  
Wesley N. Musser ◽  
George Mason
Keyword(s):  
Risk Management ◽  
Theoretical Model ◽  
Futures Markets ◽  
Theory Of The Firm ◽  
Marketing Strategies ◽  
Financial Risks ◽  
Risk Averse ◽  
Optimal Amount ◽  
Financial Uncertainty ◽  
Fixed Quantity

AbstractIncorporation of futures markets into the theory of the firm under uncertainty has received considerable attention in risk management. A theoretical model of optimal firm decisions in cash and futures markets considering price, production, and financial risks is presented. Production and marketing strategies for corn and soybeans in Georgia and Illinois are analyzed to determine the optimal amount of futures contracting which may be a hedge or a speculative position. A partial hedge is optimal for most situations for risk averse producers when the amount hedged is variable. With fixed quantity transactions, speculative and cash positions, but not hedging, tend to be E-V efficient.

scholarly journals Effect of Debt Position on the Choice of Marketing Strategies for Florida Orange Growers: A Risk Efficiency Approach

1991 ◽  
Vol 23 (2) ◽  
pp. 103-112 ◽  
Author(s):  
Charles B. Moss ◽  
Stephen A. Ford ◽  
Mario Castejon
Keyword(s):  
Stochastic Dominance ◽  
Marketing Strategies ◽  
Risk Averse ◽  
The Relationship ◽  
Second Degree

AbstractThis study examined the relationship between debt position and choice of marketing instrument. Specifically, this study employed first and second degree stochastic dominance, and stochastic dominance with respect to a function to determine whether the efficient marketing instrument changes between debt positions. The results indicate that the choice of marketing instrument does vary with debt position in some marketing periods if the decisionmaker is moderately risk averse.

Opposite Effects for Cations in Enhancing and Suppressing Nucleation of Pathology Crystallization of Gout

CrystEngComm ◽  
2021 ◽  
Author(s):  
anqi da ◽  
aijun ren ◽  
Rong Chen ◽  
Xingde Zhang ◽  
yonglan pan ◽  
...  
Keyword(s):  
Probability Distributions ◽  
Crystal Nucleation ◽  
Cumulative Probability ◽  
Monosodium Urate

In this paper, we focused on the influence of common serum cations on monosodium urate monohydrate (MSUM) crystals nucleation determined from cumulative probability distributions (CPD) of the solute crystal nucleation...

Evaluating the Efficiency of Portfolio-Hedging Strategies by Incorporating Third Degree Stochastic Dominance Criteria and Data Envelopment Analysis

2021 ◽  
pp. 22-46
Author(s):  
Margareta Gardijan Kedžo
Keyword(s):  
Data Envelopment Analysis ◽  
Stochastic Dominance ◽  
Data Envelopment ◽  
Risk Averse ◽  
Super Efficiency ◽  
Risk Hedging ◽  
The Third ◽  
Positive Skewness ◽  
Hedging Strategies ◽  
Efficient Hedging

The chapter investigates chosen hedging strategies with options as useful risk hedging instruments. Assuming that average investor prefers greater return, is risk-averse, and prefers greater positive skewness, the performance of different hedged and unhedged portfolios is evaluated using stochastic dominance (SD) criteria and data envelopment analysis (DEA). The SD is examined up to the third degree (TSD) using Davidson-Duclos (DD) test. In the DEA, a super efficiency BCC model is used. It is investigated how these two methodologies can be combined and how the TSD criteria can be integrated into DEA in order to simplify the analysis of determining efficient hedging strategies with options.

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