Economic theory provides little guidance for selecting a numeraire in estimating dual function profit functions. In this study, we examine the choice of numeraire price (equation) for profit function models of Iowa agriculture. The choice of numeraire is evaluated by forecasting accuracy and...

Residue management system (RMS) offers increase productivity gain to farmers by increasing the organic matter. Farmers have failed to realize this gain and consequently have not adopted RMS in cotton cultivation. Benefit of adopting RMS system appears sooner than farmers would think.