Application of Game Theory to Cocoa Production Management Systems in Ondo State, Nigeria

Oluyole

Application of Game Theory to Cocoa Production Management Systems in Ondo State, Nigeria

Oluyole * §

Contact

University of Ibadan, Ibadan

Application of Game Theory to Cocoa Production Management Systems in Ondo State, Nigeria

Article Fingerprint

ReserarchID

51189

Application of Game Theory to Cocoa Production Management Systems in Ondo State, Nigeria Banner

AI TAKEAWAY

Connecting with the Eternal Ground

Abstract

Cocoa production is susceptible to a number of risks such as unavailability of enough land, unavailability of agro-chemicals, variation in product prices and a host of others. This study utilized game theory to determine the cocoa production management system which maximizes the income of farmers under risks. Data on cocoa production were collected from a random sample of 200 farmers practicing the three cocoa production management systems viz: Owner management system, Lease management system as well as Sharecropped management system. The games were constructed based on the income per hectare obtained from each of the three management systems. Maximax and Maximin criteria of game theory were used in the analysis. The Maximax criterion showed that the best management system to practice by cocoa farmers was Sharecropped management system (Income per hectare of N214,847) while the result of the Maximin showed that the best management system was Owner management system (Income per hectare of N92,463). The study therefore recommended for optimistic farmers to practice Sharecropped management system while Owner management system is recommended for pessimistic farmers.

References

21 Cites in Article

Reference Format

Anagbogu Cf,Muyiwa Aa,Dada Ke,Mapayi Fe,Balogun St,Iyoha So,Adepoju Af (1983). ENHANCING THE EXISTING COFFEE GENETIC RESOURCES IN NIGERIA THROUGH IN VITRO CULTURE CONSERVATION.
B Ayanwale (2002). Family investment in the Education of Children and Adolescents in Rural Osun State, Nigeria.
J Ayorinde (1966). EVALUATION OF THE GROWTH AND CARCASS CHARACTERISTICS OF THE JAPANESE QUAIL (Coturnix conturnix japonica) IN NIGERIA.
Zkan Burhan,Handan Vurus,Ak (2001). Game Theory and its Application to Field Crops in Antalya Province.
A Daramola,J Fuwape,T Ofuya,J Okunlola,I Ajibefun,I Okuku,D Oke,E Aladesaiye,K Badaru,A Olaiya (2003). Evaluation of Sustainable Options for Rehabilitation for Small Holder Nigerian Farmers.
R Ferdosi (1995). A survey of risk and uncertainty resources in agriculture.
D Fudenberg,J Tirole (1991). Game theory.
J Gough,S Hill (1979). Fundamentals of Managerial Economics.
F Gough,G Eppen,C Schmidt (1991). Introductory Management Science. 3rd Edition.
A Mishra,J Perry (1999). Forward contracting of inputs: A farm-level analysis.
N Nkang,E Ajah,S Abang,E Edet (2009). Investment in cocoa production in Nigeria: A cost and return analysis of three cocoa production management systems in the Cross River State cocoa belt.
Adeyemi Adepoju,Christiana Adeniyi,Roseline Kolawole,Hameed Adebambo (2004). Determinants of Adoption of Digital Marketing among Selected Small and Medium Scale Enterprises in Lagos State, Nigeria.
(2010). Game Theory www. investopedia.
(2010). Game Theory.
A Ojo (2003). The Problem of Cocoa Marketing and Trade in Nigeria: Pre-liberalisation and Liberalisation Era.
Adeyemi Adepoju,Kayode Ekundayo,Olutoye Aladejebi,Angela Abasilim,Olalekan Jesuleye,Samson Oyetunji (2025). Energy Conservation Behaviour and Sufficiency among University Hostel Students: An exploratory study.
H Olesen (2003). Contract production of peas.
Ondo State (2003). Fact sheet on Ondo.
L Opeke (1987). Tropical Tree Crops.
Oziegbe Aigbokhaevbolo (2011). Application of Game Theory to Business Strategy in Undeveloped Countries: A Case for Nigeria.
V Villalobos (1989). Advances in Tissue Culture Methods Appliied to Coffee and Cocoa Plant Biotechnology for Developing Countries.

Download References

Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Oluyole. 2013. "Application of Game Theory to Cocoa Production Management Systems in Ondo State, Nigeria". Global Journal of Science Frontier Research, Global Journal of Science Frontier Research - D: Agriculture & Veterinary GJSFR-D Volume 13 (GJSFR Volume 13 Issue D12).

More Citation Formats

Select Citation Style:

Download Citation

GJSFR Volume 13 Issue D12

Explore Journals Explore Volume Read This Issue

Journal Specifications

Crossref Journal DOI 10.17406/GJSFR

Print ISSN 0975-5896

e-ISSN 2249-4626

Keywords

agrochemicals cocoa production decision criteria game theory management systems

Classification

GJSFR-D Classification FOR Code: 070199

Submission ReceivedSeptember 7, 2013
Peer Review Double Blind
Handling Editor
Accepted October 5, 2013
Published October 15, 2013

Version of record

v1.2

Issue date

November 1, 2013

Language

English

Experiance in AR

Explore published articles in an immersive Augmented Reality environment. Our platform converts research papers into interactive 3D books, allowing readers to view and interact with content using AR and VR compatible devices.

View in VR

Read in 3D

Your published article is automatically converted into a realistic 3D book. Flip through pages and read research papers in a more engaging and interactive format.

View in 3D

Article Matrices

Total Score: 150

Country: Nigeria

Subject: Global Journal of Science Frontier Research

Authors: Oluyole, K.A., Yusuf, S.A., Alao, T.K. (PhD/Dr. count: 0)

View Count (all-time): 301

Total Views (Real + Logic): 1355

Total Downloads (simulated): 111

Publish Date: 2013 10, Tue

Monthly Totals (Real + Logic):

Month 1: 38 views
Month 2: 56 views
Month 3: 59 views
Month 4: 28 views
Month 5: 57 views
Month 6: 34 views
Month 7: 32 views
Month 8: 33 views
Month 9: 38 views
Month 10: 49 views
Month 11: 48 views
Month 12: 33 views
Month 13: 30 views
Month 14: 26 views
Month 15: 16 views
Month 16: 29 views
Month 17: 24 views
Month 18: 26 views
Month 19: 24 views
Month 20: 29 views
Month 21: 31 views
Month 22: 27 views
Month 23: 39 views
Month 24: 26 views
Month 25: 24 views
Month 26: 37 views
Month 27: 40 views
Month 28: 49 views
Month 29: 13 views
Month 30: 28 views
Month 31: 34 views
Month 32: 28 views
Month 33: 29 views
Month 34: 32 views
Month 35: 20 views
Month 36: 38 views
Month 37: 31 views
Month 38: 22 views
Month 39: 23 views
Month 40: 31 views
Month 41: 32 views
Month 42: 36 views
Month 43: 47 views
Month 44: 28 views
Month 45: 31 views
Month 46: 43 views
Month 47: 46 views
Month 48: 17 views
Month 49: 29 views
Month 50: 25 views
Month 51: 16 views
Month 52: 28 views
Month 53: 36 views
Month 54: 45 views
Month 55: 26 views
Month 56: 28 views
Month 57: 36 views
Month 58: 42 views
Month 59: 33 views
Month 60: 28 views
Month 61: 30 views
Month 62: 36 views
Month 63: 19 views
Month 64: 21 views
Month 65: 32 views
Month 66: 24 views
Month 67: 33 views
Month 68: 40 views
Month 69: 50 views
Month 70: 32 views
Month 71: 30 views
Month 72: 38 views
Month 73: 25 views
Month 74: 29 views
Month 75: 14 views
Month 76: 14 views
Month 77: 25 views
Month 78: 41 views
Month 79: 40 views
Month 80: 28 views
Month 81: 44 views
Month 82: 33 views
Month 83: 39 views
Month 84: 37 views
Month 85: 14 views
Month 86: 26 views
Month 87: 28 views
Month 88: 12 views
Month 89: 11 views
Month 90: 34 views
Month 91: 22 views
Month 92: 44 views
Month 93: 29 views
Month 94: 31 views
Month 95: 45 views
Month 96: 46 views
Month 97: 32 views
Month 98: 30 views
Month 99: 37 views
Month 100: 28 views
Month 101: 18 views
Month 102: 14 views
Month 103: 42 views
Month 104: 29 views
Month 105: 23 views
Month 106: 41 views
Month 107: 20 views
Month 108: 36 views
Month 109: 36 views
Month 110: 19 views
Month 111: 41 views
Month 112: 23 views
Month 113: 36 views
Month 114: 29 views
Month 115: 37 views
Month 116: 15 views
Month 117: 23 views
Month 118: 41 views
Month 119: 21 views
Month 120: 30 views
Month 121: 18 views
Month 122: 43 views
Month 123: 30 views
Month 124: 30 views
Month 125: 31 views
Month 126: 25 views
Month 127: 20 views
Month 128: 17 views
Month 129: 30 views
Month 130: 29 views
Month 131: 28 views
Month 132: 31 views
Month 133: 20 views
Month 134: 33 views
Month 135: 44 views
Month 136: 31 views
Month 137: 11 views
Month 138: 48 views
Month 139: 38 views
Month 140: 23 views
Month 141: 26 views
Month 142: 49 views
Month 143: 29 views
Month 144: 42 views
Month 145: 37 views
Month 146: 30 views
Month 147: 59 views
Month 148: 38 views
Month 149: 61 views
Month 150: 55 views
Month 151: 47 views
Month 152: 40 views
Month 153: 45 views
Month 154: 48 views
Month 155: 30 views

Total Views: 1.4K

Total Downloads: 111

All Trends