The 1996 Federal Agricultural Improvement and Reform (FAIR) Act of 1996 has been portrayed as a radical departure from the farm policies of the past 60 years. FAIR brought sweeping institutional changes to the basic price and income support programs, many of which had been in place since the...

We design an experiment to simulate how people make agricultural production decisions under three policy scenarios, each incorporating direct payments (DPs): (a) price uncertainty without countercyclical payments (CCPs); (b) price uncertainty with CCPs; and (c) price uncertainty, CCPs, and...

Government programs that restrict production and increase prices to particular groups of producers have a long history in the United States. The purpose of this research is to analyze the implications of such a program for peanuts in three independent essays. The first essay focuses on the...

Rankings of different risk management portfolios including Average Crop Revenue Election (ACRE), traditional government payment programs, crop insurance and hedging in futures; and optimal choices of insurance coverage levels and hedge ratios are evaluated for a representative central Indiana...

Purpose The purpose of this paper is to evaluate the risk management benefits provided by the supplemental coverage option (SCO) insurance plan which was created in the 2014 Farm Bill. Specifically, the marginal expected utility benefits are compared with the potential additional subsidy cost...

With increased pressures on today’s Federal Budget, there may be funding cutson agriculture programs. These cuts would certainly bring about increased concern as towhich programs and which crops take the biggest cut. A straight cut across the boardwill likely affect each commodity group...

The lack of a safety net for farm income in the FAIR Act has become evident in recent years because of the necessity of federal legislation each year, 1998-2001, to support farm income. In recent years, U.S. agriculture has experienced a rapid loss of mid-size family farms. The number of...

This study analyzes two farm bill proposals that would replace the Federal Agricultural Improvement and Reform Act: the U.S. House of Representatives Bill H.R. 2646 and the Senate Agriculture Committee proposal. Both proposals try to incorporate the additional emergency federal funding that...

This study analyzes three farm bill proposals that could replace the Federal Agricultural Improvement and Reform Act: The U.S. House of Representatives Bill H.R. 2646, the Senate Agriculture Committee Proposal, and the Agricultural Conservation Rural Enhancement (ACRE) Act. All proposals try to...

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...