Estimating The Value Of Sequential Updating Solutions For Intrayear Crop Management
Results of comparing updating versus nonupdating modeling assumptions call into question the use of models based on nonupdating strategies as valid representations of actual farmer actions. If farmers are sequential updaters, the results indicate that models assuming no updating are inaccurate. The degree of this inaccuracy ranges between 4% and 10% of profits for the study area. Further, the results indicate that updating appears to be important for both descriptive and prescriptive studies of farmer behavior.
Volume (Year): 14 (1989)
Issue (Month): 01 (July)
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- Anderson, Jock R., 1974. "Risk Efficiency in the Interpretation of Agricultural Production Research," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 42(03), September.
- John Quiggin, 1988. "Murray River Salinity—An Illustrative Model," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(3), pages 635-645.
- Leontief, Wassily, 1971. "Theoretical Assumptions and Nonobserved Facts," American Economic Review, American Economic Association, vol. 61(1), pages 1-7, March.
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