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Value of Reducing Temporal Input Nonuniformities (The)

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  • Babcock, Bruce A.
  • Blackmer, A. M.

Abstract

The producer value of reducing temporal uncertainty concerning the level of soil nitrate is estimated for corn production in Iowa. The reduction in uncertainty is obtained through use of a late-spring nitrate test. Parametric representations of conditional densities of soil nitrates are used along with an estimated production function to estimate optimal nitrogen fertilizer applications under both uncertainty and certainty for a representative risk-neutral Iowa corn farm. Results indicate that decreasing uncertainty could reduce average fertilizer applications by up to 38 percent and that producer returns could be increased by up to $22.08/acre.

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Bibliographic Info

Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 10587.

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Date of creation: 01 Jan 1992
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Publication status: Published in Journal of Agricultural and Resource Economics 1992, vol. 17, pp. 335-347
Handle: RePEc:isu:genres:10587

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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
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Web page: http://www.econ.iastate.edu
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Cited by:
  1. Wu, JunJie & Babcock, Bruce A., 2001. "Spatial Heterogeneity and the Choice of Instruments to Control Nonpoint Pollution," Staff General Research Papers 1012, Iowa State University, Department of Economics.
  2. Khanna, Madhu & Zilberman, David, 1997. "Incentives, precision technology and environmental protection," Ecological Economics, Elsevier, vol. 23(1), pages 25-43, October.
  3. Chad E. Hart & Dermot J. Hayes & Bruce A. Babcock, 2003. "Insuring Eggs in Baskets," Center for Agricultural and Rural Development (CARD) Publications 03-wp339, Center for Agricultural and Rural Development (CARD) at Iowa State University.
  4. Ribaudo, Marc & Delgado, Jorge & Hansen, LeRoy T. & Livingston, Michael J. & Mosheim, Roberto & Williamson, James M., 2011. "Nitrogen in Agricultural Systems: Implications for Conservation Policy," Economic Research Report 118022, United States Department of Agriculture, Economic Research Service.
  5. Peng, Wei & Bosch, Darrell J., 2000. "Improving Nitrogen Management Using Site-Specific Technology In The Virginia Coastal Plain," 2000 Annual meeting, July 30-August 2, Tampa, FL 21746, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  6. Lichtenberg, Erik, 2002. "Agriculture and the environment," Handbook of Agricultural Economics, in: B. L. Gardner & G. C. Rausser (ed.), Handbook of Agricultural Economics, edition 1, volume 2, chapter 23, pages 1249-1313 Elsevier.
  7. Finger, Robert, 2012. "Nitrogen use and the effects of nitrogen taxation under consideration of production and price risks," Agricultural Systems, Elsevier, vol. 107(C), pages 13-20.
  8. Babcock, Bruce A. & Shogren, Jason F., 1995. "The cost of agricultural production risk," Agricultural Economics, Blackwell, vol. 12(2), pages 141-150, August.
  9. Pautsch, Gregory R. & Babcock, Bruce A. & Breidt, F. J., 1999. "Optimal Information Acquisition Under a Geostatistical Model," Staff General Research Papers 1517, Iowa State University, Department of Economics.
  10. Finger, Robert, 2011. "Reductions of Agricultural Nitrogen Use Under Consideration of Production and Price Risks," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114356, European Association of Agricultural Economists.
  11. Singerman, Ariel & Hart, Chad E. & Lence, Sergio H., 2012. "Revenue Protection for Organic Producers: Too Much or Too Little," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124370, Agricultural and Applied Economics Association.
  12. Mitchell, Paul D., 2003. "Value of imperfect input information in agricultural production," Agricultural Systems, Elsevier, vol. 75(2-3), pages 277-294.
  13. Fleming, Ronald A., 1997. "The Role Of Soil Test Information In Reducing Groundwater Pollution," 1997 Annual meeting, July 27-30, Toronto, Canada 21031, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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