We propose a theoretical framework to analyze the conditions under which a farmer facing production uncertainty (due to a possible water shortage) and incomplete information will adopt a more efficient irrigation technology. A reduced form of this model is empirically estimated using a sample of...

In this article, we investigate the applicability of the central limit theorem (CLT) to aggregate crop yields. We argue that the aggregation of elementary crop yields is likely to produce nonnormal distributions if, contrary to the standard CLT case, the number of crop acres exhibits substantial...

We propose a theoretical framework to analyze the conditions under which a farmer facing production uncertainty (due to a possible water shortage) and incomplete information will adopt a more efficient irrigation technology. A reduced form of this model is empirically estimated using a sample of...