A Differential Game Approach to Adoption of Conservation Practices
AbstractAgricultural production can degrade water sources through leaching of nitrogen and phosphorus from agricultural land to surface and ground water sources. To minimize the pollution from agricultural production, the U.S. Department of Agriculture promotes adoption of conservation practices. Previous studies that analyzed adoption of new technologies did not incorporate the two important features of technologies that are primarily used to conserve the environment; common resource and interaction between farmers. The current study develops a conceptual framework using a differential game to analyze adoption of new technologies that impact the water quality. The results of the current study show that the single agent optimization models of the previous studies would not lead to the optimal solution of the differential game. Current study also shows that if farmers act cooperatively, they devote more capital to conserve the environment.
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Bibliographic InfoPaper provided by Agricultural and Applied Economics Association in its series 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. with number 149619.
Date of creation: 26 May 2013
Date of revision:
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Technology Adoption; Water Quality; Optimal Control; Differential Game; Environmental Economics and Policy; Resource /Energy Economics and Policy;
This paper has been announced in the following NEP Reports:
- NEP-AGR-2013-06-04 (Agricultural Economics)
- NEP-ALL-2013-06-04 (All new papers)
- NEP-ENV-2013-06-04 (Environmental Economics)
- NEP-RES-2013-06-04 (Resource Economics)
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