We analyze the effect of an emergence of biofuel industry on the Conservation Reserve Program. The government expenditure on Conservation Reserve Program needs to increase dramatically to keep the current scale of CRP program when the biofuel industry is considered. We propose that the...

There is growing interest in biomass from perennial grasses (e.g. switchgrass and miscanthus) for bioenergy production because of their high yields, their potential to be grown on low quality land with minimal competition with food crops and, and their ability to achieve significant reduction in...

This paper analyzes the effect of landowner risk preferences and land quality on the optimal mix of vertically integrated production and contracted production of an energy crop in a region characterized by heterogeneity in landowners’ risk preferences and land quality and with riskiness of...

We develop a framework to examine the extent to which farmers' risk and time preferences, availability of credit to cover establishment cost, and crop insurance for conventional crops may influence farmers' decision to allocate land to a perennial energy crop and affect the costs of meeting a...

We investigate the effect of crop price and climate variables on rainfed corn and soybean yields and acreage in the United States using a large panel dataset for the 1977-2007 period. Instrumental variables are used to control for endogeneity of prices in yield and acreage regressions, while...