Purpose – What copulas are, their estimation, and use is illustrated using a geographical diversification example. To accomplish this, dependencies between county-level yields are calculated for non-irrigated wheat, upland cotton, and sorghum using Pearson linear correlation and Kendall's tau....

Purpose – What copulas are, their estimation, and use is illustrated using a geographical diversification example. To accomplish this, dependencies between county-level yields are calculated for non-irrigated wheat, upland cotton, and sorghum using Pearson linear correlation and Kendall's tau....

Yield correlations between 380 different counties are calculated for non-irrigated wheat. Using this data, a function is estimated that shows the relationship between correlation and changes in geographic and climate data. In addition movement variables are included added to the specification to...

Contractual arrangements for joint machinery ownership between independent agribusinesses are explored. A two-farm economic simulation model of locations in Texas, Colorado, and Montana is developed to provide insight associated with sharing combines. Important variables include combine size...

Purpose – The Agricultural Resource Management Survey (ARMS) conducted annually by the USDA's Economic Research Service collects data on US agriculture, ranging from production practices to the financial condition of farm and ranch enterprises and the farm household. The purpose of this...