FLEXIBLE, RISK-ORIENTED MARKETING STRATEGIES FOR PINTO BEAN PRODUCERS
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A model designed to identify preferred postharvest marketing strategies for pinto bean producers is presented. The model evaluates flexible strategies that use current market information to determine whether or not storage should continue. Explicit consideration is given to price uncertainty and risk preferences. The results indicate that nearly all decision makers prefer flexible strategies to fixed strategies that call for a predetermined pattern of sales. They also show that the choice of a marketing strategy is sensitive to risk preferences. Initial experiences in making the model available to producers are also discussed.