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Estimating The Value Of Sequential Updating Solutions For Intrayear Crop Management

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  • Mjelde, James W.
  • Dixon, Bruce L.
  • Sonka, Steven T.

Abstract

Results of comparing updating versus nonupdating modeling assumptions call into question the use of models based on nonupdating strategies as valid representations of actual farmer actions. If farmers are sequential updaters, the results indicate that models assuming no updating are inaccurate. The degree of this inaccuracy ranges between 4% and 10% of profits for the study area. Further, the results indicate that updating appears to be important for both descriptive and prescriptive studies of farmer behavior.

Suggested Citation

  • Mjelde, James W. & Dixon, Bruce L. & Sonka, Steven T., 1989. "Estimating The Value Of Sequential Updating Solutions For Intrayear Crop Management," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 14(1), pages 1-8, July.
    • Handle: RePEc:ags:wjagec:32447
    DOI: 10.22004/ag.econ.32447
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    References listed on IDEAS

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    1. Anderson, Jock R., 1974. "Risk Efficiency in the Interpretation of Agricultural Production Research," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 42(03), pages 1-54, September.
    2. Mjelde, James W. & Dixon, Bruce L. & Sonka, Steven T. & Lamb, Peter J., 1987. "Dynamic Programming Model of the Corn Production Process for East-Central Illinois," Staff Paper Series 257981, Texas A&M University, Department of Agricultural Economics.
    3. Richardson, James W. & Nixon, Clair J., 1982. "Producer'S Preference For A Cotton Farmer Owned Reserve: An Application Of Simulation And Stochastic Dominance," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(1), pages 1-10, July.
    4. William F. Lazarus & Bruce L. Dixon, 1984. "Agricultural Pests as Common Property: Control of the Corn Rootworm," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(4), pages 456-465.
    5. John Quiggin, 1988. "Murray River Salinity—An Illustrative Model," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(3), pages 635-645.
    6. Leontief, Wassily, 1971. "Theoretical Assumptions and Nonobserved Facts," American Economic Review, American Economic Association, vol. 61(1), pages 1-7, March.
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    Cited by:

    1. Kingwell, Ross S., 1995. "Effects of Tactical Responses and Risk Aversion on Farm Wheat Supply," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 62(01), pages 1-14, April.
    2. Kingwell, Ross S., 1992. "The Tactics of Dryland Farm Management given Variance in Climate and Prices," 1992 Conference (36th), February 10-13, 1992, Canberra, Australia 146536, Australian Agricultural and Resource Economics Society.
    3. Robinson, Stephen D., 1995. "Selecting wheat varieties in a stochastic environment," 1995 Conference (39th), February 14-16, 1995, Perth, Australia 171091, Australian Agricultural and Resource Economics Society.
    4. David Boussios & Paul V. Preckel & Yigezu A. Yigezu & Prakash N. Dixit & Samia Akroush & Hatem Cheikh M'hamed & Mohamed Annabi & Aden Aw‐Hassan & Yahya Shakatreh & Omar Abdel Hadi & Ayed Al‐Abdallat &, 2019. "Modeling producer responses with dynamic programming: a case for adaptive crop management," Agricultural Economics, International Association of Agricultural Economists, vol. 50(1), pages 101-111, January.
    5. Antle, John M. & Capalbo, Susan Marie & Crissman, Charles C., 1994. "Econometric Production Models With Endogenous Input Timing: An Application To Ecuadorian Potato Production," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 19(1), pages 1-18, July.
    6. Gicheha, M.G. & Edwards, G.R. & Bell, S.T. & Burtt, E.S. & Bywater, A.C., 2014. "Embedded risk management in dryland sheep systems II. Risk analysis," Agricultural Systems, Elsevier, vol. 124(C), pages 1-11.

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    Keywords

    Crop Production/Industries;

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