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Stochastic Fertilizer Production Functions for Continuous Corn

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  • Wayne A. Fuller

Abstract

The distributional properties of yield and profit for continuous corn production under nitrogen fertilization are investigated, and the mean and variance are estimated as functions of the rate of nitrogen fertilization. It is noted that the variance of profit increases as the rate of fertilization increases. The current expected yield is shown to be a function of previous yield and fertilization history. It is then demonstrated that information on previous yield outcomes may be used to specify a fertilization program which increases mean profit and/or reduces year-to-year variance in profit as compared to a fixed rate of application each year.

Suggested Citation

  • Wayne A. Fuller, 1965. "Stochastic Fertilizer Production Functions for Continuous Corn," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 47(1), pages 105-119.
    • Handle: RePEc:oup:ajagec:v:47:y:1965:i:1:p:105-119.
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    File URL: http://hdl.handle.net/10.2307/1236157
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    Cited by:

    1. Kennedy, John O.S., 1986. "Rules For Optimal Fertilizer Carryover: An Alternative Explanation," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 54(02), pages 1-8, August.
    2. Theodoros Skevas & Teresa Serra, 2016. "The role of pest pressure in technical and environmental inefficiency analysis of Dutch arable farms: an event-specific data envelopment approach," Journal of Productivity Analysis, Springer, vol. 46(2), pages 139-153, December.
    3. David A. Hennessy & Bruce A. Babcock & Timothy E. Fiez, 1996. "Effects of Site-Specific Management on the Application of Agricultural Inputs," Center for Agricultural and Rural Development (CARD) Publications 96-wp156, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    4. Ackello-Ogutu, Christopher & Paris, Quirino & Williams, William A., 1985. "Nutrient Nonsubstitution In Crop Response: A Non-Nested Hypothesis Test," Working Papers 225795, University of California, Davis, Department of Agricultural and Resource Economics.
    5. Serra, Teresa & Oude Lansink, Alfons, 2014. "Measuring the impacts of production risk on technical efficiency: A state-contingent conditional order-m approach," European Journal of Operational Research, Elsevier, vol. 239(1), pages 237-242.
    6. Agarwal, Sandip Kumar, 2017. "Subjective beliefs and decision making under uncertainty in the field," ISU General Staff Papers 201701010800006248, Iowa State University, Department of Economics.
    7. Phoebe Koundouri, 2004. "Current Issues in the Economics of Groundwater Resource Management," Journal of Economic Surveys, Wiley Blackwell, vol. 18(5), pages 703-740, December.
    8. Antti Saastamoinen, 2015. "Heteroscedasticity Or Production Risk? A Synthetic View," Journal of Economic Surveys, Wiley Blackwell, vol. 29(3), pages 459-478, July.
    9. Amer Ait Sidhoum, 2023. "Measuring farm productivity under production uncertainty," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 67(4), pages 672-687, October.
    10. Robert Chambers & Teresa Serra & Spiro Stefanou, 2015. "Using ex ante output elicitation to model state-contingent technologies," Journal of Productivity Analysis, Springer, vol. 43(1), pages 75-83, February.
    11. Harmon, Xavier & Boyer, Christopher N. & Lambert, Dayton M. & Larson, James A., 2017. "Temporal Frequency Of Soil Test Information Effects On Returns To Potassium Fertilization In Cotton Production," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 49(2), pages 251-272, May.
    12. Ben Groom & Phoebe Koundouri & Celine Nauges & Alban Thomas, 2003. "Irrigation water management under risk: An application to Cyprus," DEOS Working Papers 0306, Athens University of Economics and Business.
    13. Zhou, Xia “Vivian” & Clark, Christopher D. & Lambert, Dayton M. & English, Burton C. & Larson, James A. & Boyer, Christopher N., 2015. "Biomass supply and nutrient runoff abatement under alternative biofuel feedstock production subsidies," Agricultural Systems, Elsevier, vol. 139(C), pages 250-259.
    14. Zhu, Jessica, 2018. "Understanding the Rationale of Heterogeneous Farmers' Agricultural Technology Adoption Decisions," 2018 Annual Meeting, August 5-7, Washington, D.C. 274233, Agricultural and Applied Economics Association.
    15. Day, Richard H. & Sparling, Edward & Woodworth, Roger C., 1977. "PART II. Economic Optimization in Agricultural and Resource Economics," AAEA Monographs, Agricultural and Applied Economics Association, number 337222, january.
    16. Anderson, Jock R., 1972. "An Overview of Modelling in Agricultural Management," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 40(03), pages 1-12, September.
    17. Harmon, Xavier & Boyer, Christopher N. & Lambert, Dayton M. & Larson, James A. & Gwathmey, C. Owen, 2016. "Comparing the Value of Soil Test Information Using Deterministic and Stochastic Yield Response Plateau Functions," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 41(2), May.
    18. R. M. Hassan & A. Hallam, 1990. "Stochastic Technology In A Programming Framework: A Generalised Mean‐Variance Farm Model," Journal of Agricultural Economics, Wiley Blackwell, vol. 41(2), pages 196-206, May.
    19. Celine Nauges & Phoebe Koundouri & Vangelis Tzouvelekas, 2004. "Endogenous Technology Adoption Under Production Risk: Theory and Application to Irrigation Technology," Working Papers 0411, University of Crete, Department of Economics.
    20. Hassan, Rashid M. & Hallam, Arne & D'Silva, B., 1988. "Stochastic Technology in a Programming Framework: A Generalized E. V. Model," 1988 Annual Meeting, August 1-3, Knoxville, Tennessee 270212, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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