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Globally Flexible Modeling of County-Level Acreage Response for Primary U.S. Field Crops
Cooper, Joseph C.; Arnade, Carlos A. - Agricultural and Applied Economics Association - AAEA - 2011
This study takes the standard acreage response model that stems from an expected utility framework, accounting for both price and yield variability, and nests it within a flexible semi-nonparametric (SNP) model consistent with farm-level decision models for computationally tractable results. We...
Persistent link: https://www.econbiz.de/10009002471
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Optimal Coverage Level Choice with Individual and Area Plans of Insurance
Bulut, Harun; Collins, Keith J.; Zacharias, Thomas P. - Agricultural and Applied Economics Association - AAEA - 2011
We theoretically examine a farmer’s coverage demand with area and individual insurance plans as either separate or integrated options. The individual and area losses are assumed to be imperfectly and positively correlated. With actuarially fair rates, the farmer will fully insure with the...
Persistent link: https://www.econbiz.de/10009002509
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A Whole-Farm Profitability Analysis of Organic and Conventional Cropping Systems
Delbridge, Timothy A.; Fernholz, Carmen; Lazarus, William F. - Agricultural and Applied Economics Association - AAEA - 2011
Replaced with revised version of paper 05/26/11.
Persistent link: https://www.econbiz.de/10009020909
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Assessing the Effects of Climate Change on Farm Production and Profitability: Dynamic Simulation Approach
Cai, Ruohong; Bergstrom, John C.; Mullen, Jeffrey D.; … - Agricultural and Applied Economics Association - AAEA - 2011
In this paper, a dynamic optimization model was developed to simulate how farm-level realized price and profitability respond to yield change which was induced by climate change. Producers' acreage response was included in the dynamic model considering crop rotation effect. In the crop rotation...
Persistent link: https://www.econbiz.de/10009020976
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Learning by Doing, Risk Aversion and Use of Risk Management Strategies
Uematsu, Hiroki; Ashok, Mishra K. - Agricultural and Applied Economics Association - AAEA - 2011
Using a national survey, double hurdle models are estimated to examine the impact of farmers’ risk attitude on use of production and marketing contracts. Risk averse farmers are less likely to use contracts but risk attitude does not have any significant impact on the intensity at which...
Persistent link: https://www.econbiz.de/10009020981
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Impact of the New Standard Reinsurance Agreement (SRA) on Multi-Peril Crop Insurance (MPCI) Gain and Loss Probabilities
Vergara, Oscar; Seaquist, Jack; Zuba, Gerhard; … - Agricultural and Applied Economics Association - AAEA - 2011
We utilize an agricultural model that uses crop/weather relationships at the county resolution and fits robust distributions that take into account the impact that weather has on crop production. Once the crop insurance policy conditions and prices are applied to the modeled county yield...
Persistent link: https://www.econbiz.de/10009002536
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Acreage Decision under Price & Yield Uncertainty
Lee, Young-Jae; Kennedy, P. Lynn; Brian, Hilbun - Agricultural and Applied Economics Association - AAEA - 2011
Persistent link: https://www.econbiz.de/10009020908
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The Impact of the E.coli Spinach Outbreak on Acreage Decisions Under Uncertainty
Mohr, Belinda Acuna - Agricultural and Applied Economics Association - AAEA - 2011
This article quantifies the effect of the 2006 food-borne illness spinach outbreak on harvested acreage for the fresh spinach market. In September 2006, fresh spinach contaminated with E. coli O157:H7 caused hundreds of consumer illnesses across the U.S. and a few deaths. The outbreak was...
Persistent link: https://www.econbiz.de/10009020935
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Pricing Options on Commodity Futures: The Role of Weather and Storage
Bozic, Marin; Fortenbery, T. Randall - Agricultural and Applied Economics Association - AAEA - 2011
model for options on futures based on a Generalized Lambda Distribution (GLD) that allows greater flexibility in higher … moments of the expected terminal distribution of futures price. We use times and sales data for corn futures and options for … encompass corn silking through grain maturity. Impacts of storage and weather on the distribution of terminal futures price …
Persistent link: https://www.econbiz.de/10009020946
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A Globally Flexible Model for Crop Yields Under Weather Risk
Cooper, Joseph C.; Wallander, Steven - Agricultural and Applied Economics Association - AAEA - 2010
QR-FFT regression that incorporates information on the tails of the distribution. We find that quadratic terms are not …
Persistent link: https://www.econbiz.de/10009021176