In this paper the financial risk of crop plans is measured by two symmetric risk measures: variance and mean absolute deviation of the return. Several crop planning models with symmetric risk measures, based on the financial portfolio theory, are formulated. Among them minimum risk and maximum expected return models are of interest. The decision variables are the land areas allocated to crops. The models belong to mathematical programming with continuous variables. Some numerical examples for the minimum financial risk model are studied and efficient frontiers of the models are displayed.
crop planning, symmetric risk measures, portfolio theory, efficient frontier, decision support
Marius RĂDULESCU, Constanţa Zoie RĂDULESCU, "Crop Planning Models with Symmetric Risk Measures", Studies in Informatics and Control, ISSN 1220-1766, vol. 23(4), pp. 333-340, 2014. https://doi.org/10.24846/v23i4y201403
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