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Evaluating Use of Outlook Information in Grain Sorghum Storage Decisions

Published online by Cambridge University Press:  28 April 2015

M. Edward Rister ,
Jerry R. Skees  and
J. Roy Black
M. Edward Rister
Affiliation:
Texas A&M University
Jerry R. Skees
Affiliation:
University of Kentucky
J. Roy Black
Affiliation:
Michigan State University
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Abstract

This study examines grain sorghum storage decisions in the Texas Coastal Bend region. Decisions involving use and non-use of outlook information are compared using stochastic dominance criteria. Results indicate outlook information is of value to most classes of decisionmakers. The value of outlook information, however, is contingent upon producers' risk preferences. The methodology presented could be used to evaluate a more extensive set of marketing strategies for grain sorghum as well as for other crops.

Keywords

grain sorghummarketingoutlook informationstochastic dominancestorage

Information

Type
Submitted Articles
Information
Journal of Agricultural and Applied Economics , Volume 16 , Issue 1 , July 1984 , pp. 151 - 158
Copyright
Copyright © Southern Agricultural Economics Association 1984

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