Estimating The Value Of Sequential Updating Solutions For Intrayear Crop Management
AbstractResults 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.
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Bibliographic InfoArticle provided by Western Agricultural Economics Association in its journal Western Journal of Agricultural Economics.
Volume (Year): 14 (1989)
Issue (Month): 01 (July)
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- 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), September.
- 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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