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Risk-Adjusted Comparison of Conservation Reserve Program Payments Versus Production Payments for a Corn-Soybean Farmer

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  • Ibendahl, Gregory A.

Abstract

Conservation reserve program (CRP) payments amount to several billion dollars annually. Payments are allocated to both remove land from production and to help farmers pay for conservation improvements. However, research examining whether farmers increase their utility with CRPs is limited. This paper uses simulation analysis and certainty equivalents to compare farming income to payments under the CRP. Farming income is a combination of crop production and government payments as specified in the 2002 Farm Bill. This analysis focuses on farms in three different counties in Kentucky. Results indicate that CRPs are good choices for many farmers.

Suggested Citation

  • Ibendahl, Gregory A., 2004. "Risk-Adjusted Comparison of Conservation Reserve Program Payments Versus Production Payments for a Corn-Soybean Farmer," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 36(2), pages 1-10, August.
    • Handle: RePEc:ags:joaaec:43391
    DOI: 10.22004/ag.econ.43391
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    Cited by:

    1. Xie, Hualin & Jin, Shengtian, 2019. "Evolutionary Game Analysis of Fallow Farmland Behaviors of Different Types of Farmers and Local Governments," Land Use Policy, Elsevier, vol. 88(C).
    2. Hualin Xie & Qing Wu, 2019. "Analysis of Fallow Farming Decision-Making Behavior of Farmers Based on Hawk-Dove Game Theory: The Case of Guizhou Province," Sustainability, MDPI, vol. 11(14), pages 1-15, July.
    3. Davis, Todd D., 2004. "Private Decisions and Public Goods: Trade-Offs in the Conservation Programs in the New Farm Bill: Discussion," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 36(2), pages 1-2, August.

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