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A Stochastic Dominance Comparison of Reduced Tillage Systems in Corn and Soybean Production under Risk

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  • Richard M. Klemme

Abstract

Returns per acre of reduced tillage systems including conventional, chisel, till-plant, and no-till are examined under general assumptions concerning risk. These returns are calculated using com and soybean experimental plot yields. Stochastic dominance rankings indicate an advantage (second degree) of conventional and chisel over no-till when soil loss costs are not assigned. Annual per acre soil loss costs of $5–15 shift rankings towards the reduced tillage systems. A $10 per acre cost results from corn yield losses of 0.06% per year (170 bushel per acre yield base) over fifty years with a 5% real discount rate.

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  • Richard M. Klemme, 1985. "A Stochastic Dominance Comparison of Reduced Tillage Systems in Corn and Soybean Production under Risk," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(3), pages 550-556.
    • Handle: RePEc:oup:ajagec:v:67:y:1985:i:3:p:550-556.
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    1. Gebremedhin, Berhanu & Schwab, Gerald, 1998. "The Economic Importance Of Crop Rotation Systems: Evidence From The Literature," Staff Paper Series 11690, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    2. Pablo C. Benítez & Timo Kuosmanen & Roland Olschewski & G. Cornelis van Kooten, 2006. "Conservation Payments under Risk: A Stochastic Dominance Approach," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 88(1), pages 1-15.
    3. Giesler, G. Grant & Paxton, Kenneth W. & Millhollon, E.P., 1993. "A Gsd Estimation Of The Relative Worth Of Cover Crops In Cotton Production Systems," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 18(1), pages 1-10, July.
    4. Mikesell, Chris L. & Williams, Jeffery R. & Long, James H., 1987. "Conservation Tillage of Grain Sorghum and Soybeans:A Stochastic Dominance Analysis," Staff Papers 133700, Kansas State University, Department of Agricultural Economics.
    5. Bruce A. McCarl & David A. Bessler, 1989. "Estimating An Upper Bound On The Pratt Risk A Version Coefficient When The Utility Function Is Unknown," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 33(1), pages 56-63, April.
    6. Gary L. Helms & DeeVon Bailey & Terrence F. Glover, 1987. "Government Programs and Adoption of Conservation Tillage Practices on Nonirrigated Wheat Farms," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 69(4), pages 786-795.
    7. Hrubovcak, James & Vasavada, Utpal & Aldy, Joseph E., 1999. "Green Technologies for a More Sustainable Agriculture," Agricultural Information Bulletins 33721, United States Department of Agriculture, Economic Research Service.
    8. Feng, Hongli & Kurkalova, Lyubov A. & Kling, Catherine L. & Gassman, Philip W., 2006. "Environmental conservation in agriculture: Land retirement vs. changing practices on working land," Journal of Environmental Economics and Management, Elsevier, vol. 52(2), pages 600-614, September.
    9. Manley, James G. & van Kooten, G. Cornelis & Moeltner, Klaus & Johnson, Dale W., 2003. "Creating Carbon Offsets in Agriculture through No-Till Cultivation: A Meta-Analysis of Costs and Carbon Benefits," Working Papers 36994, University of Victoria, Resource Economics and Policy.
    10. Gebremedhin, Berhanu & Schwab, Gerald & Harwood, Richard R. & Christenson, Donald & Bricker, Calvin, 1998. "A Stochastic Dominance Analysis Of Alternative Sugar Beet- And Navy Bean- Based Crop Rotations In Michigan," Staff Paper Series 11509, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    11. King, Robert P., 1986. "Discussion Remarks On Stochastic Dominance The State Of The Art In Agricultural Economics," Regional Research Projects > 1986: S-180 Annual Meeting, March 23-26, 1986, Tampa, Florida 271996, Regional Research Projects > S-180: An Economic Analysis of Risk Management Strategies for Agricultural Production Firms.
    12. John W. Ritchie & G. Yahya Abawi & Sunil C. Dutta & Trevor R. Harris & Michael Bange, 2004. "Risk management strategies using seasonal climate forecasting in irrigated cotton production: a tale of stochastic dominance," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 48(1), pages 65-93, March.
    13. McDonald, Jeffrey D. & Moffitt, L. Joe & Willis, Cleve E., 1997. "Application of mean-Gini stochastic efficiency analysis," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 41(1), pages 1-18.
    14. Tew, Bernard V. & Reid, Donald W., 1988. "Probability Distributions Of Crop Prices, Yields, And Gross Revenue," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 17(2), pages 1-7, October.
    15. Schoney, R. A., 1990. "An Analysis of Wheat Supply Response Under Risk and Uncertainty," Working Papers 244030, Agriculture and Agri-Food Canada.
    16. McCarl, Bruce A., 1990. "Generalized Stochastic Dominance: An Empirical Examination," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 22(1), pages 1-7, December.
    17. Hodde, Whitney & Sesmero, Juan & Gramig, Benjamin & Vyn, Tony & Doering, Otto, 2016. "Climate Change and the Economics of Conservation Tillage," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 236090, Agricultural and Applied Economics Association.
    18. Prato, Tony, 2008. "Stochastic multiple attribute evaluation of land use policies," Ecological Modelling, Elsevier, vol. 219(1), pages 115-124.
    19. Ritchie, John W. & Abawi, G. Yahya & Dutta, Sunil C. & Harris, Trevor R. & Bange, Michael, 2004. "Risk management strategies using seasonal climate forecasting in irrigated cotton production: a tale of stochastic dominance," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 48(1), pages 1-29.
    20. Eihab M. Fathelrahman & James C. Ascough II & Dana L. Hoag & Robert W. Malone & Philip Heilman & Lori J. Wiles & Ramesh S. Kanwar, 2011. "Continuum of Risk Analysis Methods to Assess Tillage System Sustainability at the Experimental Plot Level," Sustainability, MDPI, vol. 3(7), pages 1-29, July.
    21. Fox, Glenn & Weersink, Alfons & Sarwar, Ghulam & Duff, Scott & Deen, Bill, 1991. "Comparative Economics Of Alternative Agricultural Production Systems: A Review," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 20(1), pages 1-19, April.

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