New revenue-based support programs in the 2008 Farm Bill represent a fundamental shift in farm programs and risk management decision-making. However, complexity, uncertainty, economics, and, arguably, an incomplete analysis of the new Average Crop Revenue Election (ACRE) program all contributed...

We review the implications of the 2007 Farm Bill for the risk management dimensions of U.S. agriculture and policy. Legislative proposals suggest significant changes in risk management policy, including the introduction of state or national revenue insurance. We also pursue an empirical analysis...

The use of national aggregate measures for the purpose of analyzing the impacts of agricultural policies hides the impact of national policies on the distribution of benefits and costs between and within regions, size, and types of businesses. While economists can use national aggregate measures...

Government farm support programs such as Loan Deficiency Payments (LDP) and Counter-Cyclical Payments (CCP) have payoff structures that effectively make them costless price insurance instruments. A combination of these payments with yield insurance may provide a viable alternative to revenue...

Valuing the Changes in Herbicide Risks Resulting from Adoption of Roundup Ready Soybeans by U.S. Farmers: A Revealed-Preference Approach