The general method of moments procedure is used for estimating a soybean acreage response function assuming the producers hold rational expectations. Results indicate that soybean, corn, and wheat futures prices, lagged acreage, and government programs are significant factors for determining...

Resurgent cotton production compels better acreage forecasts for planning seed, chemical, and other input requirements. Structural models describe leading acreage response indicators, and forecasts are compared to time-series models. Cotton price, loan rate, deficiency payments, lagged corn...

The efficiency of public education is examined using a cost indirect output distance function. Efficiency estimates are obtained using data envelopment analysis applied to data from Georgia public schools. Georgia school districts utilize educational budgets with reasonable efficiency, achieving...

An adaptive regression model is used to examine the relative importance of cash and government support prices in determining cotton production over time. The results show that the cash price is more important as a source of price information for cotton producers than the government program...

Forecasts of economic time series are often evaluated according to their accuracy as measured by either quantitative precision or qualitative reliability. We argue that consumers purchase forecasts for the potential utility gains from utilizing them, not for their accuracy. Using Monte Carlo...

The economic viability of the Boll Weevil Eradication program in Alabama, Florida, and Georgia is assessed based on a five-year survey of producers. Results indicate the program increases yield 100 pounds per acre. This implies a 19 percent internal rate of return for producers over a ten year...

The objective of the research presented in this paper is the development of a stochastic adoption threshold. The option pricing approach for modeling investment under uncertainty is extended for the case of comparing two stochastic input prices associated with inputs that are perfect substitutes...

Using principal component analysis, a climate index is developed to estimate the linkage between climate and crop yields. The indices based on three climate projections are then applied to forecast future crop yield responses. We identify spatial heterogeneity of crop yield responses to future...

Student evaluation of teaching (SET) is employed as an aid in improving instruction and determining faculty teaching effectiveness. However, economic theory indicates the existence of externalities in SET scores that directly influence their interpretation. As a test of this existence, a...

Southeast drought conditions have accentuated the demand for irrigation in the face of restricted water supply. For allocating this supply, Georgia held an auction for withdrawing irrigated acreage. This auction withdrew 33,000 acres from irrigation, resulting in a physical estimate of a 399...