OPTIMAL ECONOMIC LENGTH OF LEYS: A DYNAMIC PROGRAMMING APPROACH
A model is presented to investigate the optimal economic life cycle of grass leys with winter damage problems in northern Norway and to determine the threshold of winter damage before it is profitable to re-seed. A two-level hierarchic Markov process has been constructed using the MLHMP software. Th...
Main Authors: | , , |
---|---|
Format: | Text |
Language: | English |
Published: |
2017
|
Subjects: | |
Online Access: | https://doi.org/10.22004/ag.econ.25848 http://ageconsearch.umn.edu/record/25848 https://ageconsearch.umn.edu/record/25848/files/cp03he08.pdf |
id |
ftagecon:oai:ageconsearch.umn.edu:25848 |
---|---|
record_format |
openpolar |
spelling |
ftagecon:oai:ageconsearch.umn.edu:25848 2024-09-15T18:25:50+00:00 OPTIMAL ECONOMIC LENGTH OF LEYS: A DYNAMIC PROGRAMMING APPROACH Hegrenes, Agnar Kristensen, Anders Ringgaard Lien, Gudbrand D. 2017-04-01T14:32:07Z https://doi.org/10.22004/ag.econ.25848 http://ageconsearch.umn.edu/record/25848 https://ageconsearch.umn.edu/record/25848/files/cp03he08.pdf eng eng doi:10.22004/ag.econ.25848 https://ageconsearch.umn.edu/record/25848/files/cp03he08.pdf http://ageconsearch.umn.edu/record/25848 http://ageconsearch.umn.edu/record/25848 Text 2017 ftagecon https://doi.org/10.22004/ag.econ.25848 2024-07-05T10:49:14Z A model is presented to investigate the optimal economic life cycle of grass leys with winter damage problems in northern Norway and to determine the threshold of winter damage before it is profitable to re-seed. A two-level hierarchic Markov process has been constructed using the MLHMP software. The model takes uncertainty concerning yield potential, damage estimation and weather dependent random fluctuations into account. A Kalman filter technique is used for updating of knowledge on yield potential and damage level. The application of the model is demonstrated using data from two commercial Norwegian farms. Since parameter estimates vary considerably among farms, it is concluded that decision support concerning optimal economic life cycle of grass leys should be done at farm level. The results also show the importance of using a flexible dynamic replacement strategy. Use of the model for a specific farm situation is illustrated. Text Northern Norway AgEcon Search - Research in Agricultural & Applied Economics |
institution |
Open Polar |
collection |
AgEcon Search - Research in Agricultural & Applied Economics |
op_collection_id |
ftagecon |
language |
English |
description |
A model is presented to investigate the optimal economic life cycle of grass leys with winter damage problems in northern Norway and to determine the threshold of winter damage before it is profitable to re-seed. A two-level hierarchic Markov process has been constructed using the MLHMP software. The model takes uncertainty concerning yield potential, damage estimation and weather dependent random fluctuations into account. A Kalman filter technique is used for updating of knowledge on yield potential and damage level. The application of the model is demonstrated using data from two commercial Norwegian farms. Since parameter estimates vary considerably among farms, it is concluded that decision support concerning optimal economic life cycle of grass leys should be done at farm level. The results also show the importance of using a flexible dynamic replacement strategy. Use of the model for a specific farm situation is illustrated. |
format |
Text |
author |
Hegrenes, Agnar Kristensen, Anders Ringgaard Lien, Gudbrand D. |
spellingShingle |
Hegrenes, Agnar Kristensen, Anders Ringgaard Lien, Gudbrand D. OPTIMAL ECONOMIC LENGTH OF LEYS: A DYNAMIC PROGRAMMING APPROACH |
author_facet |
Hegrenes, Agnar Kristensen, Anders Ringgaard Lien, Gudbrand D. |
author_sort |
Hegrenes, Agnar |
title |
OPTIMAL ECONOMIC LENGTH OF LEYS: A DYNAMIC PROGRAMMING APPROACH |
title_short |
OPTIMAL ECONOMIC LENGTH OF LEYS: A DYNAMIC PROGRAMMING APPROACH |
title_full |
OPTIMAL ECONOMIC LENGTH OF LEYS: A DYNAMIC PROGRAMMING APPROACH |
title_fullStr |
OPTIMAL ECONOMIC LENGTH OF LEYS: A DYNAMIC PROGRAMMING APPROACH |
title_full_unstemmed |
OPTIMAL ECONOMIC LENGTH OF LEYS: A DYNAMIC PROGRAMMING APPROACH |
title_sort |
optimal economic length of leys: a dynamic programming approach |
publishDate |
2017 |
url |
https://doi.org/10.22004/ag.econ.25848 http://ageconsearch.umn.edu/record/25848 https://ageconsearch.umn.edu/record/25848/files/cp03he08.pdf |
genre |
Northern Norway |
genre_facet |
Northern Norway |
op_source |
http://ageconsearch.umn.edu/record/25848 |
op_relation |
doi:10.22004/ag.econ.25848 https://ageconsearch.umn.edu/record/25848/files/cp03he08.pdf http://ageconsearch.umn.edu/record/25848 |
op_doi |
https://doi.org/10.22004/ag.econ.25848 |
_version_ |
1810466306263089152 |