Modelling of Catastrophic Farm Risks Using Sparse Data

V. Ogurtsov; M.A.P.M. van Asseldonk; R.B.M. Huirne

doi:10.1007/978-1-4939-2483-7_12

Modelling of Catastrophic Farm Risks Using Sparse Data

V. Ogurtsov, M.A.P.M. van Asseldonk, R.B.M. Huirne

Research output: Chapter in Book/Report/Conference proceeding › Chapter

Abstract

This paper compares alternative ways of conducting a farm risk analysis using sparse data with a special reference to catastrophe events. For this purpose kernel and multivariate normal smoothing procedures are proposed and applied to generate (simulate) the joint distributions of crop yields and prices. The analysis showed that the functional forms chosen to generate the joint distribution substantially impacted the density in the tail of the distribution, although they were parameterised with the same data. The differences in the optimal farm plan (i.e. activity levels) resulting from the optimisation of net farm income, obtained from a utility-efficient programming model, were less profound.

Original language	English
Title of host publication	Handbook of Operations Research in Agriculture and the Agri-Food Industry
Editors	Lluis M. Plà-Aragone
Place of Publication	New York
Publisher	Springer New York LLC
Pages	259-275
Volume	224
ISBN (Print)	9781493924837
DOIs	https://doi.org/10.1007/978-1-4939-2483-7_12
Publication status	Published - 2015

Publication series

Name	International Series in Operations Research & Management Science
Number	224
ISSN (Print)	0884-8289

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10.1007/978-1-4939-2483-7_12

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Ogurtsov, V., van Asseldonk, M. A. P. M., & Huirne, R. B. M. (2015). Modelling of Catastrophic Farm Risks Using Sparse Data. In L. M. Plà-Aragone (Ed.), Handbook of Operations Research in Agriculture and the Agri-Food Industry (Vol. 224, pp. 259-275). (International Series in Operations Research & Management Science; No. 224). Springer New York LLC. https://doi.org/10.1007/978-1-4939-2483-7_12

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Ogurtsov, V, van Asseldonk, MAPM & Huirne, RBM 2015, Modelling of Catastrophic Farm Risks Using Sparse Data. in LM Plà-Aragone (ed.), Handbook of Operations Research in Agriculture and the Agri-Food Industry. vol. 224, International Series in Operations Research & Management Science, no. 224, Springer New York LLC, New York, pp. 259-275. https://doi.org/10.1007/978-1-4939-2483-7_12

Modelling of Catastrophic Farm Risks Using Sparse Data. / Ogurtsov, V.; van Asseldonk, M.A.P.M.; Huirne, R.B.M.

Handbook of Operations Research in Agriculture and the Agri-Food Industry. ed. / Lluis M. Plà-Aragone. Vol. 224 New York : Springer New York LLC, 2015. p. 259-275 (International Series in Operations Research & Management Science; No. 224).

Research output: Chapter in Book/Report/Conference proceeding › Chapter

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Ogurtsov V, van Asseldonk MAPM , Huirne RBM. Modelling of Catastrophic Farm Risks Using Sparse Data. In Plà-Aragone LM, editor, Handbook of Operations Research in Agriculture and the Agri-Food Industry. Vol. 224. New York: Springer New York LLC. 2015. p. 259-275. (International Series in Operations Research & Management Science; 224). https://doi.org/10.1007/978-1-4939-2483-7_12