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- W1488724871 abstract "Buffer stock policy aimed at stabilizing annual consumption of grain in the face of fluctuating supplies has many dimensions which are most conveniently analyzed by stochastic computer simulation models. Random fluctuations in crop yields can result in an infinite number of sequentially ordered production series. The sequential ordering of good and bad harvest determines the total amount of grain committed to or withdrawn from storage (when storage capacity is not unlimited) and the average length of time grain is held in storage, and consequently the extent of stabilization and the costs and benefits. With simulation of a large sample of production series, it is possible to make a realistic assessment of the expected values and deviations from these values of economic and financial benefits and costs and gains and losses by consumers and producers from specified levels of storage activity. Illustrations of the model to the world-wide wheat market suggest that reasonable protection against extreme shortfalls in wheat supplies could be obtained through buffer stocks at relatively low cost." @default.
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- W1488724871 date "1975-11-30" @default.
- W1488724871 modified "2023-09-22" @default.
- W1488724871 title "Simulation of world-wide buffer stocks of wheat" @default.
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