Positive Mathematical Programming (PMP) is one of the most commonly used methods for calibrating activity programming models. In this article we consider PMP as a calibration method for risk programming models with a mean-variance (E-V) specification. We argue that the restrictive theoretical...

Positive Mathematical Programming (PMP) is one of the most commonly used methods of calibrating activity linear programming (LP) models in agriculture. PMP applications published thus far focus on the estimation of a farm’s nonlinear cost or profit function and rely on the recovery of...