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Economies of diversification and stochastic dominance analysis in French mixed sheep farms

Abstract : Abstract Farm diversification is mainly driven by risk mitigation effects and economic gains related to complementarities between production activities. By combining these two aspects, we investigate diversification economies in a sample of French mixed sheep farming systems and rank these systems using stochastic dominance criteria. Partially diversified systems (Sheep-Grass, Sheep-Crop, Sheep-Landless) and fully diversified systems (Sheep-Grass-Crop-Landless) were evaluated. We find a high degree of diversification diseconomies in the sheep farming systems considered. The results also indicate that the fully diversified system is driven by its risk-reducing effects (including downside risk exposure) and that Sheep-Crop is the dominant system in terms of risk-adjusted returns.
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https://hal.inrae.fr/hal-03522983
Contributor : Jean-Joseph Minviel Connect in order to contact the contributor
Submitted on : Friday, January 21, 2022 - 9:39:23 AM
Last modification on : Thursday, January 27, 2022 - 3:42:20 AM

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Jean-Joseph Minviel, Marc Benoit. Economies of diversification and stochastic dominance analysis in French mixed sheep farms. Agricultural and Resource Economics Review, 2022, pp.1-22. ⟨10.1017/age.2021.26⟩. ⟨hal-03522983⟩

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