Projections of the impacts of climate change on agriculture require flexible and accurate yield response models. Typically, estimated yield response models have used fixed calendar intervals to measure weather variables and omitted observations on solar radiation, an essential determinant of...

Concepts associated with stochastic process containing multiple transition matricies are discussed. It is proved that under certain conditions, a process with m transition matrices has m unique limiting probability vectors. This result extends the notion of discrete Markov processes to problems...

Large-scale brush-control programs are being proposed in Texas to increase off-site water yields. Biophysical and economic simulation models are combined to estimate the effects of brush control on representative ranches in four ecological regions of the Edwards Plateau area of Texas. Net...

Contractual arrangements for joint machinery ownership between independent agribusinesses are explored. A two-farm economic simulation model of locations in Texas, Colorado, and Montana is developed to provide insight associated with sharing combines. Important variables include combine size...

Because requisite micro data frequently are unavailable, it is common practice to use aggregate data to estimate economic relationships representing the behavior of individual agents. A substantial body of literature has examined conditions under which inferences between micro and aggregate...

Severe declines in Pacific Northwest salmon stocks, coupled with increasing recreational demands, and judicial decisions supporting Native American fishing rights create challenges for fishery agencies. This article explores the welfare effects on recreational anglers of alternative salmon...

Testing soils for nutrients is expected to improve groundwater quality. However, it is unknown whether soil testing will improve groundwater quality sufficiently to decrease the demand for direct regulation of agricultural practices. Focusing on an irrigated agricultural region in eastern...

This article examines economic incentives and other mechanisms to offset non-point source pollution from agriculture. A biophysical simulator to estimate technical relationships is linked to linear programming models for representative farms in the Willamette Valley of Oregon. The models are...

Previous studies identify limited potential efficacy of weather derivatives in hedging agricultural exposures. In contrast to earlier studies which investigate the problem at low levels of aggregation, we find that better weather hedging opportunities may exist at higher levels of spatial...

This study provides additional evidence of the usefulness of mean-variance procedures in the presence of options which can truncate and skew the returns distribution. Using a simulation analysis, price hedging decisions are examined for hog producers when options are available. Mean-variance...