The effect of the farmer's choice of crop insurance was evaluated on both the farmer's and lender's performance. This was done using whole-farm, Monte Carlo simulation for Texas wheat/sorghum operations. Results indicate crop insurance would be preferred by moderately risk-averse farmers when...

Risk analyses often require a measure of individual risk aversion. Here a procedure is presented to calculate risk aversion parameter ranges wherein individuals would exhibit preference among a set of risky prospects.

This study uses a partial equilibrium model of the US agricultural sector to examine how technical progress and carbon price levels affect land management adaptation. We find that the climate policy range, over which a more extensive agriculture is preferred, decreases as crop yields increase....

A dry year irrigation suspension has been proposed as a way of reallocating water when aquifer levels are low for the Texas Edwards Aquifer. Under this program, farmers would be paid to suspend irrigation to allow more spring flow or nonagricultural pumping. When irrigation is suspended in the...

Mathematical programming is used to examine the economic potential of greenhouse gas mitigation strategies in U.S. agriculture and forestry. Mitigation practices are entered into a spatially differentiated sector model and are jointly assessed with conventional agricultural production....

Mathematical programming is used to examine the economic potential of greenhouse gas mitigation strategies in U.S. agriculture and forestry. Mitigation practices are entered into a spatially differentiated sector model and are jointly assessed with conventional agricultural production....