This paper analyzes the sequential decision to adopt two site-specific technologies, soil testing and variable rate technology (VRT), and their impact on nitrogen productivity in four Midwestern states. The results indicate that while farm location was a key variable influencing the adoption of...

In this paper we find that real grain prices in China have displayed increased volatility in the past decade. This is true for rice, wheat, corn, and for most of provinces. Farmers in China are found to be risk averse because when they make acreage allocation decisions. Given the widespread...

A four-region econometric model of U.S. apple production and consumption is developed. Technical progress has benefited growers in the Northwest the most, but prices there are much lower in comparison to other regions. Estimated elasticities are used to estimate national and regional welfare...

Results of a nonlinear multi-commodity and multi-country spatial equilibrium model indicate that Chinese imports of whole soybeans, and to a less extent, processed soybeans will increase due to China's potential membership in the World Trade Organization. Further, U.S., Brazilian, and Argentine...

This paper examines the impact of price uncertainty on farmers' adoption decision in site specific crop management using an option value model. It shows that price uncertainty could lead farmers to delay the investment 3 to 25 years as opposed to the net present value rule. Immediate investment...

This study was conducted to determine the value of independent and joint nitrogen and phosphorus soil tests. Generalized stochastic dominance was used to estimate the value of information. Combined information from both the nitrogen and phosphorus tests was substantially more valuable than the...

Farmers now choose production systems rather than individual inputs. This change may limit biotechnology innovation rents. We model a corn farmer's production choice among four systems: traditional, herbicide-resistant, insect resistant, and high-oil. We compare actual seed and chemical prices...

Turkish cotton markets are affected by import duties, export taxes, and a range of domestic subsidies. The degree of economic inefficiency arising from these government policies is estimated through the use of two partial equilibrium models, one for the Aegean market and another for the...

This study used Rosen's methodology of deriving a marginal implicit price series from traditional hedonic modeling and then using this series to estimate a demand model. This procedure was applied to Kansas Hard Red Winter wheat protein. Results were mixed. Own-district protein level was not...

The risk attitudes of dryland wheat and irrigated corn enterprises in Kansas have been examined in this paper using the nonlinear mean-standard deviation approach. Our results showed that dryland wheat enterprises are characterized by increasing absolute and increasing relative risk aversion....