A Quadratic application in farm planning under uncertainty

Sayed Hossain, Nik Mohd Hazrul Nik Hashim, Nik Mustapha, Lee Tak Chen

Research output: Contribution to journalArticle

3 Citations (Scopus)

Abstract

Farming in Bangladesh is confronted with various types of uncertainties, which contribute to farmers' income volatility over the years. As a result, cereal, mainly rice, which is a less riskier crop remained dominantly planted in the current farm plan. But the return generated from rice cultivation has not been able to improve the livelihood of the poor, as rice profitability is low compared to some profitable but risky crops like jute and vegetables. To investigate the behavioral pattern of the farmers towards risk, Dhaka division, largely known as central region of Bangladesh, is selected. The prevailing farm plan of Dhaka division is compared with the efficient one at the current level of expected return in order to check whether the current farm plan is risky or otherwise. Quadratic and MOTAD as well as linear programming techniques have been employed for the analysis. The result of the study reveals that the prevailing farm plan in Dhaka division is risky compared to the efficient plan. Since the current return level is low, the study has recommended that more jute and vegetables should be planted to achieve higher remuneration.

Original languageEnglish
Pages (from-to)282-298
Number of pages17
JournalInternational Journal of Social Economics
Volume29
Issue number4
DOIs
Publication statusPublished - 2002

Fingerprint

farm
uncertainty
planning
vegetables
Bangladesh
farmer
remuneration
profitability
livelihood
programming
Farm
Uncertainty
Planning
income
Farmers
Crops
Jute
Vegetables

Keywords

  • Bangladesh
  • Decision making
  • Farming
  • Risk management

ASJC Scopus subject areas

  • Economics and Econometrics
  • Social Sciences(all)

Cite this

A Quadratic application in farm planning under uncertainty. / Hossain, Sayed; Nik Hashim, Nik Mohd Hazrul; Mustapha, Nik; Chen, Lee Tak.

In: International Journal of Social Economics, Vol. 29, No. 4, 2002, p. 282-298.

Research output: Contribution to journalArticle

Hossain, Sayed ; Nik Hashim, Nik Mohd Hazrul ; Mustapha, Nik ; Chen, Lee Tak. / A Quadratic application in farm planning under uncertainty. In: International Journal of Social Economics. 2002 ; Vol. 29, No. 4. pp. 282-298.
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