IDEAS home Printed from https://ideas.repec.org/a/ags/wjagec/32228.html
   My bibliography  Save this article

The Value Of Public Information For Microeconomic Production Decisions

Author

Listed:
  • Preckel, Paul V.
  • Loehman, Edna T.
  • Kaylen, Michael S.

Abstract

Procedures are needed to evaluate the benefits of the provision of information. This paper shows how to apply a money metric definition of the value of information for this purpose. The application is to microeconomic input choices for agricultural production, and the information to be valued concerns the effect of fertilization on sorghum yield. In this paper application both output price and output level are stochastic, and the probability distribution of output is affected by the chosen level of fertilizer.

Suggested Citation

  • Preckel, Paul V. & Loehman, Edna T. & Kaylen, Michael S., 1987. "The Value Of Public Information For Microeconomic Production Decisions," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 12(02), December.
  • Handle: RePEc:ags:wjagec:32228
    as

    Download full text from publisher

    File URL: http://purl.umn.edu/32228
    Download Restriction: no

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Feinerman, Eli, 1994. "Value of information on crop response function to soil salinity in a farm-level optimization model," Agricultural Economics of Agricultural Economists, International Association of Agricultural Economists, vol. 10(3), May.

    More about this item

    Keywords

    Crop Production/Industries;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:wjagec:32228. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search). General contact details of provider: http://edirc.repec.org/data/waeaaea.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.