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.

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...

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...

Recent changes in federal farm programs and contemporary farm program proposals highlight an evolving shift in farm policy from income support to risk management. A mix of price- and revenue-based commodity programs as well as yield- and revenue-based insurance products provide crop producers a...

Although significant research has been done on managing farmers’ financial risk through federal programs such as federal crop insurance, to date, little attention has been paid to the ability of on-farm management’s potential to mitigate agricultural risk. Federal crop insurance could...

Farmer’s post adoption responses about technology are important in continuation and diffusion of a technology in precision agriculture. We studied farmer’s frequency of application decisions of GPS guidance system, after adoption. Using a Cotton grower’s precision farming survey in the...

Organically produced products are one of the fastest growing segments of food sales in the U.S. The extent to which proximity to consumer markets influences certification among producers that farm using organic practices was estimated in this study. Data from a 2012 survey of 16 states with...

This study empirically examines the effects of farm organization (separation of ownership and control) on farmer effort and farm success using a structural equation model and data from the 2005-2010 Agriculture Management Resource Survey. Contrary to expectations of existing theory, the results...