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Title
Management strategies for Indonesian rubber production under yield and price uncertainty: a bioeconomic analysis
Fields of Research (FoR) 2008:
Author(s)
Publication Date
2002
Socio-Economic Objective (SEO) 2008
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, Netherlands
ISSN
1572-9680
0167-4366
Peer Reviewed
Yes
HERDC Category Description
Peer Reviewed
Yes
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