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Economic Comparison of Commodity and Conservation Program Benefits: An Example from the Mississippi Delta

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  • Anderson, John D.
  • Parkhurst, Gregory M.

Abstract

Changes to commodity programs in the 2002 Farm Bill increased the value of crop base acreages on which decoupled payments are received. The bill also expanded the availability of key conservation programs. This paper compares the value of payments from commodity programs (along with continued crop production) to the easement payment (and recreational lease revenue) available under the Wetland Reserve Program. A net present value model using risk-adjusted returns is employed in the analysis for Mississippi delta cropland containing rice, cotton, and soybean base. Sensitivity analysis is conducted on some of the key variables affecting the decision.

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Bibliographic Info

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

Volume (Year): 36 (2004)
Issue (Month): 02 (August)
Pages:

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Handle: RePEc:ags:joaaec:43390

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

Keywords: conservation; countercyclical payment; direct payment; net present value; WRP; Q12; Q15; Q18; C15;

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  1. Cynthia J. Nickerson & Lori Lynch, 2001. "The Effect of Farmland Preservation Programs on Farmland Prices," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, Agricultural and Applied Economics Association, vol. 83(2), pages 341-351.
  2. Babcock, Bruce A. & Choi, E. Kwan & Feinerman, Eli, 1993. "Risk And Probability Premiums For Cara Utility Functions," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 18(01), July.
  3. Feather, Peter & Hellerstein, Daniel & Hansen, LeRoy T., 1999. "Economic Valuation of Environmental Benefits and the Targeting of Conservation Programs: The Case of the CRP," Agricultural Economics Reports, United States Department of Agriculture, Economic Research Service 34027, United States Department of Agriculture, Economic Research Service.
  4. Lichtenberg, Erik & Smith-Ramirez, Ricardo, 2003. "Cost Sharing, Transaction Costs, And Conservation," 2003 Annual meeting, July 27-30, Montreal, Canada 22141, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  5. Atwood, Jay D. & Knight, Lynn & Cattaneo, Andrea & Smith, Peter F., 2003. "Benefit Cost Analysis Of The 2002 Eqip Farm Bill Provisions," 2003 Annual meeting, July 27-30, Montreal, Canada 21992, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
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Cited by:
  1. Jenkins, W. Aaron & Murray, Brian C. & Kramer, Randall A. & Faulkner, Stephen P., 2010. "Valuing ecosystem services from wetlands restoration in the Mississippi Alluvial Valley," Ecological Economics, Elsevier, vol. 69(5), pages 1051-1061, March.
  2. 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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