RISK MANAGEMENT POTENTIAL OF PRECISION FARMING TECHNOLOGIES

Initial ideas on risk management uses of precision agricultural technology focused on site-specific treatment of problem areas to reduce the probability of low yields and returns. Recent discussions deal with sensor and remote-sensing information to improve marketing and "as applied maps" as trace-back mechanisms to manage liability. A theoretical model is presented that suggests that there are plausible circumstances under which precision farming can reduce temporal yield variability. Empirical evidence from an on-farm trial of site-specific P&K management in the Eastern Cornbelt supports the hypothesis that precision farming can have risk-reducing benefits.


Issue Date:
1999-08
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/15366
Published in:
Journal of Agricultural and Applied Economics, Volume 31, Number 2
Page range:
275-285
Total Pages:
11




 Record created 2017-04-01, last modified 2017-04-04

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