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The effect of rental rates on the extension of Conservation Reserve Program contracts

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  • Cooper, Joseph C.
  • Osborn, Tim

Abstract

Given that the majority of conservation reserve program (CRP) contracts on approximately 36 million acres of enrolled land expire concurrently, re-enrollment decisions by farmers and the federal government have high budgetary implications. Using a survey of over 8,000 CRP contract holders, we apply an ordered response discrete choice model to explicitly model the range in rental rates over which the representative farmer may be ambivalent to renewing the CRP contract. Given the empirical results from the ordered response model, we estimate acreage re-enrollment as a function of the rental rate and compare them to results of a binomial choice model.

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File URL: http://mpra.ub.uni-muenchen.de/24781/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 24781.

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Date of creation: Feb 1998
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Publication status: Published in American Journal of Agricultural Economics 1.80(1998): pp. 184-194
Handle: RePEc:pra:mprapa:24781

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Related research

Keywords: CRP contracts; ordered probit; re-enrollment; respondent indifference;

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  1. Krinsky, Itzhak & Robb, A Leslie, 1986. "On Approximating the Statistical Properties of Elasticities," The Review of Economics and Statistics, MIT Press, vol. 68(4), pages 715-19, November.
  2. Trudy Ann Cameron, 1991. "Interval Estimates of Non-Market Resource Values from Referendum Contingent Valuation Surveys," Land Economics, University of Wisconsin Press, vol. 67(4), pages 413-421.
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