A Stochastic Model for the Optimal Replacement of Rubber Trees

Etherington, Dan M.

doi:10.1111/j.1467-8489.1977.tb00192.x

Cited by 13 publications

(8 citation statements)

References 4 publications

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“…However, this would be different for rubber latex as it is more responsive to market signals. Using market price of latex in Vietnam over several years (Etherinton 1977;Jumpasut and Cooper 2002;Ali 2010), we recognized that latex price showed fluctuation even though it is currently on the rise. Different from food crops that farmers have been familiar with production, storage, and consumption, latex is not used directly.…”

Section: Economic Analysismentioning

confidence: 97%

Crop production versus surface-water regulation: assessing tradeoffs for land-use scenarios in the Tat Hamlet Watershed, Vietnam

Ayanu

Nguyen

Marohn

et al. 2011

International Journal of Biodiversity Science, Ecosystem Servic

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Local land uses play a critically important role in regulating hydrological services like surface-water runoff. This runoff influences the supply of water to streams and lowland agriculture. Land-use management decisions, in turn, are influenced by economic return. This article examines the tradeoffs between surface-water runoff regulation and income from crop production by using the land-use change impact assessment model and an economic analysis for a case study in Tat Hamlet Watershed, north Vietnam. The traditional composite swidden agriculture was used as baseline scenario, since it has been practised by farmers in the study area for decades. Two alternative scenarios were tested and compared with the composite swidden agriculture: expansion of maize monoculture and introduction of rubber plantations in the uplands. Among the land-use scenarios tested, rubber plantations appear to be better alternatives than maize monocropping in terms of surface-water regulation and improving economic return. However, implementation should consider the interests of local stakeholders as well as an analysis of possible risks and uncertainties involved.

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Section: Economic Analysismentioning

confidence: 97%

Crop production versus surface-water regulation: assessing tradeoffs for land-use scenarios in the Tat Hamlet Watershed, Vietnam

Ayanu

Nguyen

Marohn

et al. 2011

International Journal of Biodiversity Science, Ecosystem Servic

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“…A similar study has been conducted by Oppenheim (2003) using multi-period linear programming to evaluate orchard (apple and pear) adjustment strategies in New Zealand. Etherington (1977) has used a stochastic model to determine the optimal replacement of rubber trees in Peninsular Malaysia. The model is based on the principles of deterministic asset replacement proposed by Perrin (1972).…”

Section: Review Of Literaturementioning

confidence: 99%

Economic Analysis Determining the Optimal Replanting Age of Date Palm

Kotagama

Al-Alawi

Boughanmi

et al. 2014

Jour. Agri. & Mar. Scie.

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Two alternative analytical models were used to estimate the economically optimal age of replanting date palm, namely; Comparison of Equivalent Annual Net Revenue (CEAN) and Multi-Period Linear Programming Model (MPLP). Solution procedures of both models are based on the theory of optimal replacement of capital assets. Data on date palm age-yield relationship and other socioeconomic variables were gleaned through a farm survey of 34 large commercial farms, in Izki, Bahla, and Al-Hamra wilayats in the Al- Dakhilya governorate of the Sultanate of Oman. The study estimated the optimal age of replanting date palms as 50-55 years. Both models, CEAN and MPLP gave consistent estimates. The optimal age to replant date palms was sensitive only to changes in the interest rates. Low interest rates shortened the optimal age of date palm replanting. Changes in date price, yield and variable production costs did not change the optimal age of replanting date palms. The incremental revenue that could be accrued to the Sultanate of Oman through replanting date palms was estimated as 7 million OR/ year.

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“…Budgets for AFS must take explicit account of time if serious errors in advice are to be avoided (see [4,9] in relation to rubber production). The inclusion of the time dimension in budgets introduces three complications: first there is the cost of time as represented by some discount rate and for which there are well-defined discounting techniques.…”

Section: Practical Approachesmentioning

confidence: 99%

Approaches to the economic evaluation of agroforestry farming systems

Etherington

Matthews

1983

Agroforest Syst

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The economics of agroforestry systems can be approached in a purely analytical fashion with mathematical equations and diagrams explaining the principles of analysis. This paper argues that such an approach may be useful for teaching purposes but has little practical relevance. There is an urgent need for a practical tool with which multi-disciplinary teams can assess agroforestry systems. The simplest and most common approaches to the economic analysis of farm management problems are various forms of budgeting. Recent advances in micro-computer technology provide the means by which the principles of partial budgeting can be adapted to the needs of agroforestry taking account of its multiple component nature, seasonal variability and long life span. The paper sets out the specifications for such an approach and indicates how it might be used.

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A Stochastic Model for the Optimal Replacement of Rubber Trees

Cited by 13 publications

References 4 publications

Crop production versus surface-water regulation: assessing tradeoffs for land-use scenarios in the Tat Hamlet Watershed, Vietnam

Crop production versus surface-water regulation: assessing tradeoffs for land-use scenarios in the Tat Hamlet Watershed, Vietnam

Economic Analysis Determining the Optimal Replanting Age of Date Palm

Approaches to the economic evaluation of agroforestry farming systems

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