The Value Of Reducing Temporal Input Nonuniformities
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% and that producer returns could be increased by up to $22.08/acre.
Volume (Year): 17 (1992)
Issue (Month): 02 (December)
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- Babcock, Bruce A., 1992. "Effects of Uncertainty on Optimal Nitrogen Applications (The)," Staff General Research Papers Archive 10588, Iowa State University, Department of Economics.
- Feinerman, Eli & Choi, E. Kwan & Johnson, Stanley R., 1990. "Uncertainty and Split Nitrogen Application in Corn Production," Staff General Research Papers Archive 10598, Iowa State University, Department of Economics.
- Hanley, Nick, 1990. "The Economics of Nitrate Pollution," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 17(2), pages 129-151.
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