One of the potential management practices of precision agriculture (PA) is the capability of varying input application rate across a field. A potential benefit of that practice is the reduction in yield variability. Temporal reduction in yield variability can also be achieved through irrigation...

The objective of this project is to develop economic, risk management decision aids for precision agriculture practitioners to identify temporal risk spatially from production. Break-even analysis, coefficient of variation and a mean variance framework are used to identify risk. An...

This paper provides a theoretical analysis for the optimal portfolio of weather index and individual crop insurance in farm level under mean-variance framework and stresses the impacts of risk aversion level, transaction cost, and basis risk. An empirical application of corn farms in Todd county...

The biophysical simulation data from Cornell Net Carbohydrate and Protein System were used in non-linear programming model for least cost ration incorporating ingredient nutrient and price variations. Precision feeding practice indicated to have lower mean cost ration than whole herd feeding in...

Recent legislation has cleared the way for subsidized livestock price insurance. Such programs could increase production. Expected feeder cattle prices with and without subsidized insurance will be analyzed using E-V and Stochastic Dominance. Results will highlight the potential effects of the...

Production risk includes yield and days suitable for fieldwork variability. Both were modeled using biophysical simulation and a mean-variance, chance-constrained mathematical programming formulation representing a Kentucky corn, soybean, and wheat producer. While crop diversification, planting...

Production timing is an essential element in fresh vegetable growers’ efforts to maximize profitability and reduce income risks. The present study uses biophysical simulation modeling coupled with a dual crop (tomatoes, sweet corn) whole-farm economic formulation to analyze the effects of...

A whole farm economic analysis was conducted to provide a detailed assessment into the economic, risk, and production implications due to the adoption of auto-steer navigation. It was determined that auto-steer navigation was profitable for a grain farmer in Kentucky with net returns increasing...

The primary objective of this research is to integrate various avenues of risk management to provide a unified risk management strategy for the Kentucky producer. In addition the optimal insurance purchasing behavior and the impact of moral hazard on the optimal decisions of producers across...

The traditional mathematical programming model with the objective function of feed ration cost minimization is used to accommodate risk management responses to price variability associated with feeding a particular feed ration over time. The model incorporated biophysical simulation data using...