Soil Carbon Sequestration Strategies with Alternative Tillage and Nitrogen Sources under Risk
AbstractThis study examines the economic potential of using either no-tillage or conventional tillage with either commercial nitrogen or cattle manure to sequester soil in continuous corn production. This research uses stochastic efficiency with respect to a function to determine the preferred production systems under various risk preferences and utility-weighted certainty equivalent risk premiums to determine the carbon credit values needed to motivate adoption of systems, which sequester higher levels of carbon. The results indicate that no-tillage and cattle manure increase carbon sequestration. Carbon credits or government program incentives are not required to entice risk-averse managers to use no-tillage, but are required to encourage manure use as a means of sequestering additional carbon even at historically high nitrogen prices. New environmental rules for confined animal feeding operations may increase the demand for land to apply manure as a primary nutrient source and participation in the Environmental Quality Incentives Program, Conservation Security Program, and a carbon credit market to obtain payments to offset some or all of the costs of manure application. Copyright 2007, Oxford University Press.
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Bibliographic InfoArticle provided by Agricultural and Applied Economics Association in its journal Review of Agricultural Economics.
Volume (Year): 29 (2007)
Issue (Month): 2 ()
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- Watkins, K. Bradley & Hignight, Jeffrey A. & Anders, Merle M., 2009. "Assessing the Impacts of Soil Carbon Credits and Risk on No-Till Rice Profitability," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 45806, Southern Agricultural Economics Association.
- Gandorfer, Markus & Pannell, David & Meyer-Aurich, Andreas, 2011. "Analyzing the effects of risk and uncertainty on optimal tillage and nitrogen fertilizer intensity for field crops in Germany," Agricultural Systems, Elsevier, vol. 104(8), pages 615-622, October.
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2011 Conference (55th), February 8-11, 2011, Melbourne, Australia
100575, Australian Agricultural and Resource Economics Society.
- Kragt, Marit Ellen & Pannell, David J. & Robertson, Michael J. & Thamo, Tas, 2011. "Easy winnings? The economics of carbon sequestration in agricultural soils," Working Papers 109247, University of Western Australia, School of Agricultural and Resource Economics.
- Williams, Jeffery R. & Pachta, Matthew J. & Roozeboom, Kraig L. & Llewelyn, Richard V. & Claassen, Mark M. & Bergtold, Jason S., 2012. "Risk Analysis of Tillage and Crop Rotation Alternatives with Winter Wheat," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 44(04), November.
- Williams, Jeffery R. & Llewelyn, Richard V. & Pendell, Dustin L. & Schlegel, Alan J. & Troy, Dumler, 2009. "A Risk Analysis of Converting CRP Acres to a Wheat-Sorghum-Fallow Rotation," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 45985, Southern Agricultural Economics Association.
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