Models of agricultural economics typically operate at an annual basis or in a static equilibriumframework where inputs, outputs and their prices may change considerably. Production dynamics,however, imply that models relying on spatial and temporal aggregation do not capture the effects...

Crop yield and revenue insurance products with coverage based on actual production history(APH) yields dominate the U.S. Federal Crop Insurance Program. The APH yield, which plays acritical role in determining the coverage offered to producers, is based on a small sample ofhistorical yields for...

Sowohl Ernteversicherungen als auch „Wetterderivate“ sind neuartigeRisikomanagementinstrumente, die eine Absicherung gegen Schäden aus nichtkatastrophalenWetterereignissen ermöglichen, in Deutschland aber bisher nicht verbreitet sind. Imvorliegenden Beitrag wird mit Hilfe eines...

No-till (NT) has been shown to reduce fuel, labor, and machinery costs compared to conventional-till (CT) but very few rice producers in Arkansas practice NT. The low adoption rate is most likely due to difficulties in management but also limited information on the profitability and risk of NT....

Farmland and capital are an important and rapidly expanding component of the agriculturaleconomy, and empirical evidence suggests that these assets are quasi-fixed in that adjustment costs are incurred when holdings are altered. Increased interest in the rate of return for investing in farmland...

In the research area of crop yield density estimation and in particular in risk analysis, little emphasis has been given to the appropriateness of transformation methods (e.g., removing a linear trend) and how such transformations impact the reliability of the empirical distribution functions...

This study conducts an investigation on the application of classical unit-root tests using parametric tests (the augmented Dickey-Fuller, 1979 – ADF), and nonparametric tests (Phillips and Perron, 1988—PP) to corn and soybean yields in the Delta states using county-level data from 1961 to...

The Neoclassical theory of production establishes a dual relationship between the profit value function of a competitive firm and its underlying production technology. This relationship, usually referred to as the duality theory, has been widely used in empirical work to estimate production...

We theoretically examine a farmer’s coverage demand with area and individual insurance plans as either separate or integrated options. The individual and area losses are assumed to be imperfectly and positively correlated. With actuarially fair rates, the farmer will fully insure with the...

Past agricultural input market participation studies have generally ignored the joint influence of income diversification, transaction cost and production risk on input market participation decisions. This study develops an analytical framework that jointly incorporates the three factors and...