Using Risk Management Models in Extension Marketing Programs: A 1986 Crop Year Example
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Publisher:Ohio State University. Department of Agricultural, Environmental, and Development Economics
Series/Report no.:Ohio State University. Department of Agricultural Economics and Rural Sociology. ESO (Economics and Sociology Occasional Paper). No. 1253
Farmers should include risk and uncertainty in their integrated marketing-management-financial plan, as unmanaged risk often becomes synonymous with financial failure. An extension program uses a simulator and a satellite radio downlink to analyze risk for marketing alternatives and cash flow requirements. Farmers can understand and use probability concepts.
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