@article{Meiring:267326,
      recid = {267326},
      author = {Meiring, J. A. and Oosthuizen, L. K.},
      title = {DIE KEUSE VAN RISIKO-DOELTREFFENDE  SPILPUNTBELEGGINGSTRATEGIEE MET BEHULP VAN STOGASTIESE  DOMINANSIEKRITERIA},
      journal = {Agrekon},
      address = {1990-12},
      number = {346-2018-487},
      year = {1990},
      abstract = {Risk-efficient centre pivot investment strategies can be  selected by taking into account both cumulative probability  distributions of the estimated after-tax income from  alternative centre pivot investments and the producer's  preferences. Ordinary and generalized stochastic dominance  criteria are used as decision-making criteria. Eighteen  typical centre pivot systems were identified on the basis  of differences in capacity, size, pumping height and soil  type. The estimated net present values for a  wheat/maize/cotton rotation crop system were calculated for  each investment by taking production and price risks into  consideration. Stochastic dominance criteria facilitate the  selection of the risk-efficient strategies that will be  preferred by different decision-makers, on the basis of the  total probability distributions of outcomes. In most cases  stochastic dominance of the first degree gives a single  strategy which is dominant. Only by using the generalized  stochastic dominance criterion can investment strategies be  placed in order of preference. However, in this case  decision-makers with varying degrees of risk-sensitivity do  not differ in respect of centre pivot investment strategics  that would satisfy their spesific preferences.},
      url = {http://ageconsearch.umn.edu/record/267326},
      doi = {https://doi.org/10.22004/ag.econ.267326},
}