As concerns continue to mount regarding man induced impacts to the global climate, the SHPT region could be faced with a unique scenario in which the net carbon balance should be considered in the producer’s enterprise selection and production systems. Currently, the SHPT produces nearly one...

Farm management skills can affect farm managers' performance. In this article, farm management performance is analyzed based on yearly Illinois Farm Business Farm Management (FBFM) panel data across 6,760 farms from 1996 through 2011. Two out-of-sample measures of skill are used to analyze the...

A stochastic simulation model is used to determine crop insurance premiums and farm program payments for a Illinois corn-soybean and Mississippi corn-soybean-rice-cotton farm. The optimal portfolio of crop insurance and farm programs are determined subject to payment limitations and crop...

A stochastic simulation model is used to simulate crop revenues net of farm policy and crop insurance costs. Certainty equivalent analysis is used to rank farm policy and crop insurance alternatives for varying levels of risk aversion.

This paper assesses the impacts of decoupled government transfers on production decisions of a sample of Kansas farms observed from 1996 to 2001. Our model allows for risk, risk attitudes and the intertemporal investment decisions. We also allow for different adjustments of the decision...

Using county level data we study if weather and climate variables or variables used as proxies for rent-seeking behavior determine disaster payment in the Southeast. We do not find evidence of rent-seeking but find that, in addition to weather, long term climate variables affect disaster payments.

Growing farm size has generally been explained by technological advances that have allowed farmers to substitute capital for labor. Another possible factor in explaining recent farm size is the demographic shift: the age distribution of farmers has shifted to the right and older farmers...

According to Ricardian rent theory, the value of farm assets is equal to the discounted present value of future expected net rents from farm returns, and the discounted expected value of the land if converted to nonfarm development. Some recent research has considered modifying this standard...