Economies of diversification and stochastic dominance analysis in French mixed sheep farms

Farm diversification is mainly driven by risk mitigation effects and economic gains related to complementarities between production activities. By combining these two aspects, we investigate diversification economies in a sample of French mixed sheep farming systems and rank these systems using stochastic dominance criteria. Partially diversified systems (Sheep-Grass, Sheep-Crop, Sheep-Landless) and fully diversified systems (Sheep-Grass-Crop-Landless) were evaluated. We find a high degree of diversification diseconomies in the sheep farming systems considered. The results also indicate that the fully diversified system is driven by its risk-reducing effects (including downside risk exposure) and that Sheep-Crop is the dominant system in terms of risk-adjusted returns.

Trading Cryptocurrencies Using Second Order Stochastic Dominance

This research is the first attempt to customize a trading system that is based on second order stochastic dominance (SSD) to five known cryptocurrencies’ daily data: Bitcoin, Ethereum, XRP, Binance Coin, and Cardano. Results show that our system can predict price trends of cryptocurrencies, trade them profitably, and in most cases outperform the buy and hold (B&H) simple strategy. Our system’s best performance was achieved trading XRP, Binance Coin, Ethereum, and Bitcoin. Although our system has also generated a positive net profit (NP) for Cardano, it failed to outperform the B&H strategy. For all currencies, the system better predicted long trends than short trends.

Environmental Function Evaluation and Preparation of Green Decorative Materials in Indoor Design

With the growing environmental awareness, there is a rising demand for green decorative materials in furniture and indoor design. However, the existing studies lack the overall evaluation of environmental functions for green decorative materials in indoor design. To make up for the gap, this paper evaluates the environmental function and explores the preparation method of green decorative materials in indoor design. Firstly, the types and purchase principles of green decorative materials were expounded, and the preparation flow of wood product coating was given for green decorative materials in indoor design. Then, an evaluation model was established for the environmental functions of green decorative materials, the stochastic dominance matrix was constructed for the indices, and the order value of each index was computed. Finally, fuzzy Dempster–Shafer (D-S) evidence theory was adopted to develop a prediction algorithm for the environmental function of indoor decorations, and thus realize the evaluation of the greenness of decorative materials in indoor design. Experimental results demonstrate the effectiveness of our algorithm, and the good performance of the prepared super-hydrophobic and oleophobic coatings.

Stochastic dominance rankings of consumption expenditure amongst arable crop farming households in Delta State, Nigeria

Finessing the question on household settlement choice is to enquire the income/consumption expenditure distribution that either makes her better-off or worse-off. Using 430 household-level micro-data from a three-stage sampling procedure, the study ranked consumption expenditure by household attributes in Delta state, Nigeria on axiomatic poverty measure. Results showed that household heads in the widowed and 0<𝑎𝑔𝑒≤20 years categories in Delta-North first-order stochastically dominated Delta-South (𝑁≻𝑠=1𝑆), 20<𝑎𝑔𝑒≤40 years household heads in 𝑆≻𝑠=1𝐶 and 𝑁≻𝑠=1𝐶, household heads in the widowed, vocational education holder and 0<𝑎𝑔𝑒≤20 years, 20<𝑎𝑔𝑒≤40 years and 𝑎𝑔𝑒>60 years categories in 𝑁≻𝑠=1𝐶, while household heads in the vocational education holder, 0<𝑎𝑔𝑒≤20 years, 20<𝑎𝑔𝑒≤40 years and 𝑎𝑔𝑒>60 years categories in 𝑆≻𝑠=1𝐶. Household heads in the female, single, medium household-size, tertiary education holder and 0<𝑎𝑔𝑒≤20 years categories in 𝑁≻𝑠=2𝑆 and 𝑁≻𝑠=3𝑆. Household heads in the single, medium-size, 20<𝑎𝑔𝑒≤40 years and tertiary education holder categories in 𝑁≻𝑠=2𝐶 and 𝑁≻𝑠=3𝐶. Household heads in the separated spouse and small household-size categories in 𝐶≻𝑠=2𝑁 and 𝐶≻𝑠=3𝑁 while household heads that are in the single category in 𝐶≻𝑠=2𝑆 and 𝐶≻𝑠=3𝑆. There is, generally, no stochastic dominance between pairwise comparisons by district in the state, in terms of consumption expenditure, except by other household attributes.