U.S. WHEAT STORAGE CONTROL UNDER JOINT CRITERIA OF MEAN BENEFITS AND PRICE VARIATION
| dc.creator | Koo, Won W. | |
| dc.creator | Burt, Oscar R. | |
| dc.date | 2017-04-01T17:59:58Z | |
| dc.date.accessioned | 2026-07-09T04:16:59Z | |
| dc.description | A method based on stochastic dynamic programming is developed to derive efficiency frontiers for the trade-off between the long-run average social benefits and price variation. The method is used to quantify the importance of price variation per se as a criterion in U.S. wheat storage policy. The results suggest that a single criterion of maximum expected social benefits, calculated by the traditional surplus measures, is satisfactory because price variation is incidentally reduced enough that further reductions can be attained only a considerable opportunity cost. | |
| dc.identifier | doi:10.22004/ag.econ.32413 | |
| dc.identifier | https://ageconsearch.umn.edu/record/32413/files/07010111.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/32413 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/547580 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/32413 | |
| dc.title | U.S. WHEAT STORAGE CONTROL UNDER JOINT CRITERIA OF MEAN BENEFITS AND PRICE VARIATION | |
| dc.type | Text |