Determining the Best Sales Time Period for Dried Figs: A Game Theory Application

Variations in producer prices over time cause constant fluctuations in farm incomes. In this study, the author uses a game theory approach to determine the economically optimal time to sell dried figs for the agricultural firms that produce them. Based on the price producers received in the period between August 2003 and July 2010, dried fig prices were converted into 2003 real price levels. According to a linear programming model based on these assumptions, it was determined that the best time for producers to sell dried figs, with the rate of 26.63%, was November and December.