Some implications of theory are easily maintained in econometric estimation, but computational costs of maintaining curvature properties (sufficient for existence of an optimal solution) have often proved prohibitive. They also have been violated frequently by unrestricted econometric estimates....

This paper presents a theoretical framework for incorporating the following sources of risk into the determination of optimal fertilization rates: (a) the influence of weather and other stochastic factors on the marginal product of fertilizer, and (b) uncertainty about the coefficients of the...

A framework for combining extraneous information with an econometric model to evaluate the economic impacts of pesticide withdrawals is presented in this paper. The extraneous information, which can be a best guess or experimental data, is used to shift an econometrically estimated supply...

This paper analyzes policy implications arising from the National Brucellosis Technical Commission Study. A systems simulation model was designed to estimate physical losses resulting from alternative bovine brucellosis programs. Changes in benefits, costs, level of infection and net benefits...

A method for optimizing the irrigation schedule is presented. When the response surface, generated by “experimenting” with the crop simulation models is concave (convex), an optimal solution can be found. The process is iteratively repeated till convergence is achieved. Corn irrigation...

The constant elasticity of transformation (CET) linear supply model is adapted and evaluated in this analysis of short-run supply response of six Texas field crops. Cross-product supply elasticities are estimated and direct supply elasticities are derived. The sensitivity of estimated parameters...

Based on a theoretical formulation of land price formation as an economic rent to a fixed input, a single equation econometric model is specified and estimated to explain land prices in five Iowa crop reporting districts. It identifies the influence of farm prices, inflationary pressures, and...

A restricted profit function model of California agriculture is specified and estimated subject to prior information provided by economic theory. Symmetry, homogeneity, and convexity of the profit function are maintained in the estimation. Parameter estimates and elasticities are presented for...

An elusive restriction maintained in earlier CET supply models with three or more products is shown to result in a potentially serious misspecification. Its impact on empirical estimates is found to be substantial, and an alternative formulation is presented which overcomes the problem while...