This research examined factors influencing farmer purchase of crop insurance and receipt of disaster assistance payments using survey data for more than 13,000 farms across 27 U.S. states. Using a bivariate probit model some main findings are as follows. The probability of participating in...

Biorefineries that plan to use switchgrass exclusively will have to account for year-to-year variability in feedstock production. The objective of this research is to determine the quantity, class, and location of land to lease for switchgrass production to provide for the needs of a...

This paper analyzes forest carbon offset credits arising under a possible cap-and-trade system in the United States and its effect on net revenue and commodity prices. A real option model determines the optimal switching from agriculture to forestry under uncertainty in both activities. The key...