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Acreage Response Under Farm Programs For Major Southeastern Field Crops

Author

Listed:
  • Duffy, Patricia A.
  • Shalishali, Kasazi
  • Kinnucan, Henry W.

Abstract

An expected utility model that includes output price and yield uncertainty was used to estimate cotton, corn, and soybean acreage response equations for the Southeast. The model appeared to fit the soybean and corn data well, resulting in own-price elasticity estimates of 0.317 for corn and 0.727 for soybeans. When applied to cotton acreage, however, the model did not yield satisfactory results. When elasticity was allowed to change over time, however, statistical results for the cotton equation improved, yielding an own-price elasticity of 0.915 at data means.

Suggested Citation

  • Duffy, Patricia A. & Shalishali, Kasazi & Kinnucan, Henry W., 1994. "Acreage Response Under Farm Programs For Major Southeastern Field Crops," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 26(02), December.
  • Handle: RePEc:ags:joaaec:15163
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    File URL: http://purl.umn.edu/15163
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    References listed on IDEAS

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    1. Duffy, Patricia A. & Richardson, James W. & Wohlgenant, Michael K., 1987. "Regional Cotton Acreage Response," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 19(01), pages 99-110, July.
    2. Mims, Anne M. & Duffy, Patricia A. & Young, George J., 1989. "Effects Of Alternative Acreage Restriction Provisions On Alabama Cotton Farms," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 21(02), December.
    3. B. J. Morzuch & R. D. Weaver & P. G. Helmberger, 1980. "Wheat Acreage Supply Response under Changing Farm Programs," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 62(1), pages 29-37.
    4. Sandmo, Agnar, 1971. "On the Theory of the Competitive Firm under Price Uncertainty," American Economic Review, American Economic Association, vol. 61(1), pages 65-73, March.
    5. Mims, Anne M. & Duffy, Patricia A. & Young, George, 1989. "Effects of Alternative Acreage Restriction Provisions on Alabama Cotton Farms," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 21(02), pages 85-94, December.
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    Cited by:

    1. Irwin, Douglas A., 2003. "The optimal tax on antebellum US cotton exports," Journal of International Economics, Elsevier, vol. 60(2), pages 275-291, August.
    2. O'Donoghue, Erik J. & Whitaker, James B., 2006. "How distorting are direct payments?," 2006 Annual meeting, July 23-26, Long Beach, CA 21247, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Beach, Robert H. & Murray, Brian C. & Piggott, Nicholas E. & Wohlgenant, Michael K., 2002. "Interaction Effects Of Promotion, Research, And Price Support Programs For U.S. Cotton," 2002 Annual meeting, July 28-31, Long Beach, CA 19803, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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