Resource limits for weather dependent constraints in farm planning models are often implemented as chance constraints. Procedures for setting right-hand sides for these constraints are often based on rules of thumb which are seldom updated. This paper presents an approach for validating these rules of thumb, and demonstrates the approach for a heavily used farm planning model. An evaluation of the robustness of chance constraints for equipment availability which are dependent on good (sufficiently dry) field time, is presented. Rules for setting constraints affected by good field time were found to be dependent on the tillage system(s) under consideration. These results imply a need for more research on setting availabilities of stochastic resources under alternative tillage systems.
One of the expected utilitarian values of education is the development of competencies for effective business practice after school. This article presents findings of a study on the effect of education on Business Skills Cognition among indigenous microscale business owners in Kenya. Data were collected from 208 respondents using an interview schedule, observation schedule and checklist. Business Skills Cognition as the dependent quantitative variable was measured using five broad dimensions of business practice to yield a continuum of scores ranging from a minimum of 45 to a maximum of 265 points. Results from chi-square, and One Way Analysis of Variance showed that the association between education levels, and Business Skills Cognition was positive and significant. The article discusses the implication of these findings for education delivery and training for enterprise development in Kenya and any other society that is keen on the utilitarian values of education.
The study empirically examined whether stock market liberalization improves the functioning of domestic stock market and accelerates economic growth in Kenya. The study also assessed the kind of relationship between liberalization, stock market performance and economic growth in Kenya. Liberalization was assessed by stock market capitalization while turnover was used to asses stock market performance. The study used quarterly time series data collected through secondary sources and covered a period of 22 years from January, 1991 to December, 2012. The study utilized econometric techniques of Vector autoregressive and Granger Causality Tests to investigate the relationships. The results displayed a one way causality that runs from stock market development to economic growth. The results also show that stock market liberalization indirectly impacts on economic growth through investment. The study found that stock market liberalization has a significant positive impact on the economic growth in Kenya.
Maize is a staple food for 96 percent of Kenyans. Smallholders supply up to 75 percent of maize produced in Kenya but are affected by unpredictable timing, duration, and distribution of rainfall, especially during the growing season. To enhance maize productivity adoption of robust adaptation measures is vital. The study aimed to evaluate the level of efficacy of adaptation of smallholder maize production to climate variability in Kitui and Laikipia counties. Data from 273 smallholder maize producers drawn from Kitui and Laikipia counties was analyzed. A questionnaire was administered to collect data on demographic, socio-economic characteristics, and adaptation choices. The level of efficacy of adaptation was derived based on the Multiple Criteria Evaluation. Results showed that the majority of smallholders in the study (47 percent) reported a low level of efficacy of adaptation most of whom were from Laikipia County (54 percent) as compared to Kitui County (44 percent). Overall, a very small proportion of smallholders reported a high level of efficacy of adaptation (7 percent). The study concluded that the level of efficacy of adaptation of smallholder maize production to climate variability in semi-arid areas was low. The County Governments through the department of agriculture and environment could establish guidelines for a robust combination of adaptation choices to ensure the suitability and enhancement of maize production.
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