IMPACT OF RISK PREFERENCES ON CROP ROTATION CHOICE

Stochastic dominance analysis of five crop rotations using twenty-one years of experimental yield data returned results consistent with Pennsylvania cropping practices. The analysis incorporated yield risk, output price risk, and rotational yield effects. A rotation of two years corn and three years alfalfa hay dominated for approximately risk neutral and risk averse preferences, as did participation in government programs under the 1990 Farm Bill. Crop rotation selection appeared to impact net revenues more than the decision to participate in government programs.


Issue Date:
1997-04
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/31363
Published in:
Agricultural and Resource Economics Review, Volume 26, Number 1
Page range:
106-114
Total Pages:
9




 Record created 2017-04-01, last modified 2017-08-22

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