The paper examines the influence of factor price risk on factor-use efficiency through the adoption of conservation technology. The effect of a mean-preserving increase in factor price risk on optimal input-use efficiency is shown to be conditional on the own-price elasticity of factor use...

The paper examines the influence of factor price risk on factor-use efficiency through the adoption of conservation technology. The effect of a mean-preserving increase in factor price risk on optimal input-use efficiency is shown to be conditional on the own-price elasticity of factor use...

The paper examines the influence of factor price risk on factor-use efficiency through the adoption of conservation technology. The effect of a mean-preserving increase in factor price risk on optimal input-use efficiency is shown to be conditional on the own-price elasticity of factor use...

The paper considers the econometric modeling of technology adoption when crop choice is simultaneous. Bivariate probit is used to estimate a model of irrigation technology choice and land allocation using a unique field-level data set from California's Central Valley. Special attention is paid...

One challenge to estimating the parameters of a technology adoption model is that technology is selected jointly with land allocation. The article estimates a nested logit model of technology and crop choices that accounts for unobserved correlation among decisions. Estimation is conducted with...

The paper considers the effect of changes in the distribution of water price on the incentives to adopt water-conserving irrigation technologies. A two-stage decision model is developed wherein agents make long-term decisions about irrigation technology investments and decide production levels...

One challenge to estimating the parameters of a technology adoption model is that technology is selected jointly with land allocation. The article estimates a nested logit model of technology and crop choices that accounts for unobserved correlation among decisions. Estimation is conducted with...

Agriculture is by far the dominant user of water in the western United States and in nearly all arid regions of the planet. Despite this fact and despite a growing push to rely on price mechanisms for rationalizing water allocation, there are few econometric studies of agricultural water demand...

The paper considers the econometric modeling of technology adoption when crop choice is simultaneous. Bivariate probit is used to estimate a model of irrigation technology choice and land allocation using a unique field-level data set from California's Central Valley. Special attention is paid...