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Acreage Response Under Farm Programs For Major Southeastern Field Crops

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Author Info

  • Duffy, Patricia A.
  • Shalishali, Kasazi
  • Kinnucan, Henry W.

Abstract

An expected utility model that includes output price and yield uncertainty was used to estimate cotton, corn, and soybean acreage response equations for the Southeast. The model appeared to fit the soybean and corn data well, resulting in own-price elasticity estimates of 0.317 for corn and 0.727 for soybeans. When applied to cotton acreage, however, the model did not yield satisfactory results. When elasticity was allowed to change over time, however, statistical results for the cotton equation improved, yielding an own-price elasticity of 0.915 at data means.

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Bibliographic Info

Article provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.

Volume (Year): 26 (1994)
Issue (Month): 02 (December)
Pages:

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Handle: RePEc:ags:joaaec:15163

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Web page: http://www.saea.org/jaae/jaae.htm
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Related research

Keywords: Government programs; Acreage response; Expected utility; Time-varying parameters; Crop Production/Industries;

References

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  1. Sandmo, Agnar, 1971. "On the Theory of the Competitive Firm under Price Uncertainty," American Economic Review, American Economic Association, vol. 61(1), pages 65-73, March.
  2. Mims, Anne M. & Duffy, Patricia A. & Young, George J., 1989. "Effects Of Alternative Acreage Restriction Provisions On Alabama Cotton Farms," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 21(02), December.
  3. Duffy, Patricia A. & Richardson, James W. & Wohlgenant, Michael K., 1987. "Regional Cotton Acreage Response," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 19(01), July.
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Cited by:
  1. Catherine Benjamin & Magalie Houée Bigot, 2006. "The impact on yields of arable crops of moving from price support to area payements: A Study of the 1992 CAP Reform: n° 423," Working Papers 27796, Institut National de la Recherche Agronomique, France.
  2. Douglas A. Irwin, 2001. "The Optimal Tax on Antebellum U.S. Cotton Exports," NBER Working Papers 8689, National Bureau of Economic Research, Inc.
  3. Beach, Robert H. & Murray, Brian C. & Piggott, Nicholas E. & Wohlgenant, Michael K., 2002. "Interaction Effects Of Promotion, Research, And Price Support Programs For U.S. Cotton," 2002 Annual meeting, July 28-31, Long Beach, CA 19803, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  4. O'Donoghue, Erik J. & Whitaker, James B., 2006. "How distorting are direct payments?," 2006 Annual meeting, July 23-26, Long Beach, CA 21247, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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