Crop Planning Models with Symmetric Risk Measures
Author(s) -
Marius Rădulescu,
Constanța Zoie Rădulescu
Publication year - 2014
Publication title -
studies in informatics and control
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.321
H-Index - 22
eISSN - 1841-429X
pISSN - 1220-1766
DOI - 10.24846/v23i4y201403
Subject(s) - computer science , agricultural engineering , engineering
In this paper the financial risk of crop plans is measured by two symmetric risk measures: variance and mean absolute deviation of the return. Several crop planning models with symmetric risk measures, based on the financial portfolio theory, are formulated. Among them minimum risk and maximum expected return models are of interest. The decision variables are the land areas allocated to crops. The models belong to mathematical programming with continuous variables. Some numerical examples for the minimum financial risk model are studied and efficient frontiers of the models are displayed.
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