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The Value of Information and the Value of Theoretical Models in Crop Response Research

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  • Richard K. Perrin

Abstract

The concepts of the value of information and the value of alternative models are developed and applied to corn response research in Brazil. Soil test information was worth as much as $30 per hectare and the response model employed was worth up to $23 per hectare, but two soil classification models had negative values.

Suggested Citation

  • Richard K. Perrin, 1976. "The Value of Information and the Value of Theoretical Models in Crop Response Research," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 58(1), pages 54-61.
    • Handle: RePEc:oup:ajagec:v:58:y:1976:i:1:p:54-61.
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    File URL: http://hdl.handle.net/10.2307/1238577
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    Cited by:

    1. Queiroz, Pedro W. V. & Perrin, Richard K. & Fulginiti, Lilyan E. & Bullock, David S., 2023. "An Expected Value of Sample Information (EVSI) Approach for Estimating the Payoff from a Variable Rate Technology," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 48(1), January.
    2. Mu'min, Ridgely A. & Hepp, Ralph E., 1988. "Evaluating Managerial Effectiveness," Agricultural Economic Report Series 201377, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    3. Byerlee, Derek & Heisey, Paul, 1987. "On the Economics of Adaptive Research in Developing Country Agriculture," 1987 Annual Meeting, August 2-5, East Lansing, Michigan 270133, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    4. Treffeisen, P. Alan, 1980. "A cross-country comparison of land-fertilizer substitution rates and implications for world food production," ISU General Staff Papers 1980010108000018027, Iowa State University, Department of Economics.
    5. Peter Berck & Jacqueline Geoghegan & Stephen Stohs, 2000. "A Strong Test of the von Liebig Hypothesis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(4), pages 948-955.
    6. Buaha, Gabriel Toichoa & Apland, Jeffrey & Hicks, Dale, 1995. "A Regression Analysis Of The Effects Of Planting Date And Variety On Corn Yields In Minnesota," Staff Papers 13872, University of Minnesota, Department of Applied Economics.
    7. Wang, Jun & Lowenberg-DeBoer, J., 1988. "Estimating and Testing Linear Response and Plateau Functions for Crops in Rotation when Carryover Exists," 1988 Annual Meeting, August 1-3, Knoxville, Tennessee 270451, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    8. Musser, Wesley N. & Tew, Bernard V., 1984. "Use Of Biophysical Simulation In Production Economics," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 16(1), pages 1-10, July.
    9. Lukin, Vladimir & Epplin, Francis M., 1999. "Value Of Soil Test Information For Crop Production," 1999 Annual meeting, August 8-11, Nashville, TN 21586, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    10. Harper, David C. & Lambert, Dayton M. & Larson, James A. & Gwathmey, C. Owen, 2012. "Potassium carryover dynamics and optimal application policies in cotton production," Agricultural Systems, Elsevier, vol. 106(1), pages 84-93.
    11. Farquharson, Robert J., 2006. "Production Response and Input Demand in Decision Making: Nitrogen Fertilizer and Wheat Growers," Australasian Agribusiness Review, University of Melbourne, Department of Agriculture and Food Systems, vol. 14.
    12. Perrin, Richard K. & Queiroz, Pedro & Silva, Felipe & Fulginiti, Lilyan E., 2018. "Ex-ante expected payoff from variable rate N application: an expected value of sample information (EVSI) approach," 2018 Annual Meeting, August 5-7, Washington, D.C. 274351, Agricultural and Applied Economics Association.
    13. Montgomery, John M. & Griffin, Ronald C. & Dahm, Fred P., 1986. "Comparing Random Profit From 'Optimal' Input Recommendations," 1986 Annual Meeting, July 27-30, Reno, Nevada 278077, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    14. Forster, D. Lynn, 1985. "Optimum Phosphorus Fertilization," 1985 Annual Meeting, August 4-7, Ames, Iowa 278669, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    15. Biermacher, Jon T. & Epplin, Francis M. & Brorsen, B. Wade & Solie, John B. & Raun, Bill, 2006. "Precision Nitrogen Fertilization Technology with Micro Grids," 2006 Annual meeting, July 23-26, Long Beach, CA 21046, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    16. Hall, Harry H., 1998. "Choosing an Empirical Production Function: Theory, Nonnested Hypotheses, Costs of Specifications," Agricultural Economics Research Reports 31977, University of Kentucky, Department of Agricultural Economics.

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