Intertemporal Risk Management Decisions of Farmers under Preference, Market, and Policy Dynamics



Table 2. Descriptive Statistics of the Simulated Yield and Price Data

Statistics Year1 Year2 Year3 Year4 Year5 Year1

Year2 Year3 Year4 Year5


46


Whitman Simulated Yield (bushel/acre)

Grant Simulated Yield (bushel/acre)

Mean

75.28

75.93

76.77

77.36

78.24

75.19

76.27

76.30

77.34

78.02

Std Dev.

7.26

7.22

7.28

7.06

7.23

7.49

8.15

8.36

9.46

9.65

Skewness

-0.01

-0.03

0.02

0.07

-0.04

-0.08

-0.02

0.03

-0.05

0.02

Kurtosis

0.24

0.14

-0.03

0.07

-0.005

0.08

0.26

-0.09

0.16

-0.4


Portland Cash Price (dollar/bushel)              CBOT Futures Price (dollar/bushel)

Mean

3.93

3.86

3.82

3.79

3.77

3.56

3.51

3.49

3.46

3.44

Std Dev.

0.66

0.91

1.07

1.21

1.34

0.68

0.96

1.15

1.29

1.44

Skewness

0.02

0.02

0.06

0.10

0.06

-0.04

0.02

0.10

0.07

0.05

Kurtosis

-0.05

0.06

-0.06

0.20

-0.12

0.03

0.01

-0.20

-0.26

-0.31



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