Production Response and Input Demand in Decision Making: Nitrogen Fertilizer and Wheat Growers
The use of economic analysis to aid farm input investment decisions has been contentious because of observed flatness of economic response in the region of the optimum input. In this paper an application of a crop simulation model, to specify the production response, in conjunction with production economic theory has been used to develop fertiliser input demand functions. These have been combined with return on investment criteria in a graphical presentation for wheat growers in making nitrogen fertilization decisions at a particular location. The approach provides objective information to which growers can apply their own subjective preferences in making fertilizer input decisions.
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- Richard K. Perrin, 1976. "The Value of Information and the Value of Theoretical Models in Crop Response Research," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 58(1), pages 54-61.
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Agricultural Economics of Agricultural Economists,
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- Pannell, David J. & Malcolm, Bill & Kingwell, Ross S., 2000. "Are we risking too much? Perspectives on risk in farm modelling," Agricultural Economics, Blackwell, vol. 23(1), pages 69-78, June.
- Kennedy, John O.S., 1981. "An Alternative Method for Deriving Optimal Fertilizer Rates: Comment and Extension," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 49(03), December.
- Kennedy, John O.S. & Whan, Ian F. & Jackson, R. & Dillon, John L., 1973. "Optimal Fertilizer Carryover And Crop Recycling Policies For A Tropical Grain Crop," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 17(02), August.
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