RISK EFFICIENCY OF ALTERNATE CANOLA MANAGEMENT DECISIONS

This study evaluates profitability and risk associated with eighteen different management decisions for canola production in Alberta. Expected payoff from cultivar selection outweighs the payoff from time of seeding and from time of weed control. Expected payoff was higher from hybrid compared to inbred cultivars. Early spring seeding was more profitable than fall or mid-May seeding. A typical decision in the sample showed positive and significant upper limit risk-expected return tradeoffs. The generalized stochastic dominance analysis revealed that early spring seeding was dominant over fall and mid-May seeding across all risk averse and risk neutral farmers. Weed control at the six-leaf stage was risk efficient for a risk averter. A risk neutral farmer preferred weed control at the three to four-leaf stage or six-leaf stage, depending on cultivar.