This study examines the effects of alternative government farm programs and hypothetical price variability levels on two Texas cotton farms which were simulated stochastically over a 10-year period. Results indicate that a combination of high price variability and participation in government...

An econometric model of planted wheat acreage was estimated for five distinct production regions in the United States. This structural investigation represents an update of previous published work with specific attention given to policy program variables, weather, production cost, risk, market...

The U.S. pork sector is modeled to simulate the effects of alternative import levels on prices, production, consumption, farm receipts, and consumer expenditures. Over the 1983-1985 period, producers annually received $600 million less due to increasing imports than if imports had remained at...

This paper presents findings from an analytical scheme that offers a promising alternative to traditional procedures of modeling acreage response. The scheme addresses the two-step decision process in which program and nonprogram planting decisions are modeled separately, conditional on the...