Evaluating the risk of a particular decision depends on the risk aversion of the decision maker related to the underlying utility function. The objective of this paper is to use stochastic efficiency with respect to a function (SERF) to compare the ranking of risky alternatives using alternative...

A recent paper by Hardaker et al. (The Australian Journal of Agricultural and Resource Economics, 48, 2004a, 253) and book by Hardaker et al. (Coping with Risk in Agriculture, 2004b) describe a procedure for determining an efficient set from among a set of random alternatives. This procedure,...

Defining appropriate probability distributions for the variables in an economic model is an important and often arduous task. This paper evaluates the performance of several common probability distributions under different distributional assumptions when sample sizes are small and there is...

Explaining the details and the impacts of government program provisions to agricultural producers can be a challenge for extension educators. This paper introduces a visual interactive tool that demonstrates the calculations of government payments established in the 2002 farm bill. Additionally,...

Four alternative BMPs for atrazine remediation were reported by Harmon and Wang for the study area. The BMPs involved alternative incorporation practices, tillage operations, and sediment ponds. Harmon and Wang reported no statistical difference in corn yields under the alternative BMPs. An...

As Congress begins its debate for the 2002 farm bill, there have been calls for a counter cyclical safety net that will provide a better basis for targeting longer term planning than exists with ad hoc emergency assistance. Further subsidization of the multi-peril crop insurance (MPCI) program...

The farm level economic impacts of the Farm Security and Rural Investment Act of 2002 on representative Texas cotton operations are projected in this report. The analysis was conducted over the 2001-2007 planning horizon using FLIPSIM, AFPC’s whole farm simulation model. Data to simulate...

The farm level economic impacts of the Farm Security and Rural Investment Act of 2002 on representative crop and livestock operations are projected in this report. The analysis was conducted over the 2001-2008 planning horizon using FLIPSIM, AFPC’s whole farm simulation model. Data to simulate...