A Decision Support Tool Based on a Portfolio Selection Model for Crop Planning under Risk

Constanţa Zoie RĂDULESCU¹, Marius RĂDULESCU²
¹I C I Bucharest
(National Institute for R & D in Informatics)
8-10 Averescu Blvd.
011455 Bucharest 1, Romania
radulescucz@yahoo.com
¹Institute of Mathematical Statistics and Applied Mathematics
Casa Academiei Romane, 13 Calea 13 Septembrie,
050711 Bucharest 5, Romania
mradulescu.csmro@yahoo.com

Abstract: In this paper is presented a decision support tool for crop planning under risk. The software tool is based on a portfolio selection model for crop planning. The portfolio selection model is a minimum financial risk model. It takes into account climate risk and market risk. The decision variable describes the land allocation to crops. The model was solved with the MINLP solver from GAMS. The decision support tool has an interface that facilitates the construction of the input data collection and the user parameters. It gives a flexible way of working and is mainly user oriented. Numerical results obtained with this Decision Support tool are analyzed.

Keywords: Decision support, software tool, mathematical model, crop planning, risk, portfolio selection.

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CITE THIS PAPER AS:
Constanţa Zoie RĂDULESCU, Marius RĂDULESCU, A Decision Support Tool Based on a Portfolio Selection Model for Crop Planning under Risk, Studies in Informatics and Control, ISSN 1220-1766, vol. 21 (4), pp. 377-382, 2012. https://doi.org/10.24846/v21i4y201203