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Production Risk Revisited In A Stochastic Frontier Framework: Evaluating Noise And Inefficiency In Cover Crop Systems

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Author Info
Jaenicke, Edward C.
Larson, James A.
Abstract

This paper investigates both risk and technical inefficiency in a general stochastic frontier framework that is consistent with the Just-Pope framework. After applying the model to two separate cash crop-cover crop systems, the more general stochastic frontier model is found to reorder the noisiness of alternative cover crop regimes.

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File URL: http://purl.umn.edu/20477
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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2001 Annual meeting, August 5-8, Chicago, IL with number 20477.

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Date of creation: 2001
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Handle: RePEc:ags:aaea01:20477

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Related research
Keywords: Crop Production/Industries; Risk and Uncertainty;

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Chambers, Robert G. & Quiggin, John, 1996. "Non-point-source pollution regulation as a multi-task principal-agent problem," Journal of Public Economics, Elsevier, vol. 59(1), pages 95-116, January. [Downloadable!] (restricted)
  2. Kumbhakar, Sabul C., 1993. "Production risk, technical efficiency, and panel data," Economics Letters, Elsevier, vol. 41(1), pages 11-16. [Downloadable!] (restricted)
  3. Catherine J. Morrison Paul & Warren E. Johnston & Gerald A. G. Frengley, 2000. "Efficiency in New Zealand Sheep and Beef Farming: The Impacts of Regulatory Reform," The Review of Economics and Statistics, MIT Press, vol. 82(2), pages 325-337, May. [Downloadable!] (restricted)
  4. Chambers, Robert G & Quiggin, John, 1997. "Separation and Hedging Results with State-Contingent Production," Economica, London School of Economics and Political Science, vol. 64(254), pages 187-209, May. [Downloadable!] (restricted)
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  5. Jondrow, James & Knox Lovell, C. A. & Materov, Ivan S. & Schmidt, Peter, 1982. "On the estimation of technical inefficiency in the stochastic frontier production function model," Journal of Econometrics, Elsevier, vol. 19(2-3), pages 233-238, August. [Downloadable!] (restricted)
  6. Quiggin, John & Chambers, Robert G, 1998. "Risk Premiums and Benefit Measures for Generalized-Expected-Utility Theories," Journal of Risk and Uncertainty, Springer, vol. 17(2), pages 121-37, November. [Downloadable!] (restricted)
  7. Quiggin, John & Chambers, Robert G., 1998. "A state-contingent production approach to principal-agent problems with an application to point-source pollution control," Journal of Public Economics, Elsevier, vol. 70(3), pages 441-472, December. [Downloadable!] (restricted)
  8. Chambers, Robert G & Quiggin, John, 2001. " Decomposing Input Adjustments under Price and Production Uncertainty," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 83(1), pages 20-34, February. [Downloadable!] (restricted)
  9. Chambers, Robert G. & Fare, Rolf & Jaenicke, Edward & Lichtenberg, Erik, 1998. "Using dominance in forming bounds on DEA models: The case of experimental agricultural data," Journal of Econometrics, Elsevier, vol. 85(1), pages 189-203, July. [Downloadable!] (restricted)
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  1. Villano, Renato A. & O'Donnell, Christopher J. & Battese, George E., 2005. "An Investigation of Production Risk, Risk Preferences and Technical Efficiency: Evidence From Rainfed Lowland Rice Farms in the Philippines," Working Papers 12953, University of New England, School of Economics. [Downloadable!]
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