Economic Evaluation of Fertilizer Reduction Incentive Programs for Rice Producers

Producers are beginning to be provided the opportunity to participate in incentive programs to reduce application rates of fertilizer. This paper demonstrates three methods of arriving at a recommendation on program participation. Two methods employ commonly used production functions and economic optimization techniques. The economic evaluation of this decision is relatively difficult using these traditional methods. The third technique employs Monte Carlo simulation to include risk analysis in the program participation decision utilizing commonly available software. This method allows a greater level of information to be presented in a more straightforward manner to decision makers.


Issue Date:
2014
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/197112
Published in:
Journal of the ASFMRA (American Society of Farm Managers and Rural Appraisers), 2014
Page range:
214-228
Total Pages:
15




 Record created 2017-04-01, last modified 2017-08-29

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