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Endogenous risk in weed control management

  • Archer, David W.
  • Shogren, Jason F.

Weed control decisions are modeled in an endogenous risk framework where a producer invests in self-insurance and self-protection to reduce the severity of a realized pest infestation, or reduce the likelihood the infestation occurs. Self-insurance and self-protection are risk-reducing technologies that capture both the type and quantity of herbicides used. We supply conditions to unambiguously sign the effects of an increase in the probability of application or effectiveness failure and increased application or effectiveness uncertainty on optimal herbicide choices. If self-protection and self-insurance are stochastic substitutes, non-point source pollution policies targeted to reduce herbicide loadings can increase the use of more persistent herbicides. Policies that decrease loadings by reducing total mass may induce a substitution to herbicides more damaging or more likely to be transported to sensitive areas.

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Article provided by Blackwell in its journal Agricultural Economics.

Volume (Year): 14 (1996)
Issue (Month): 2 (July)
Pages: 103-122

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Handle: RePEc:eee:agecon:v:14:y:1996:i:2:p:103-122
Contact details of provider: Web page: http://www.blackwell-synergy.com/loi/agec

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  1. Marcel Boyer & Georges Dionne, 1983. "Variations in the Probability and Magnitude of Loss: Their Impact on Risk," Canadian Journal of Economics, Canadian Economics Association, vol. 16(3), pages 411-19, August.
  2. Aziz Bouzaher & Richard Cabe & Stanley R. Johnson & Andrew Manale & Jason F. Shogren, 1994. "CEEPES: An Evolving System for Agro-environmental Policy," Center for Agricultural and Rural Development (CARD) Publications 94-wp122, Center for Agricultural and Rural Development (CARD) at Iowa State University.
  3. Babock, Bruce A. & Shogren, Jason F., 1995. "The cost of agricultural production risk," Agricultural Economics of Agricultural Economists, International Association of Agricultural Economists, vol. 12(2), August.
  4. Jason F. Shogren & Thomas D. Crocker, 1990. "Risk, Self-Protection, and Ex Ante Economic Value," Center for Agricultural and Rural Development (CARD) Publications 90-wp57, Center for Agricultural and Rural Development (CARD) at Iowa State University.
  5. Dionne, G. & Eeckhoudt, L., 1984. "Self-Insurance, Self-Protection and Increased Risk Aversion," Cahiers de recherche 8424, Universite de Montreal, Departement de sciences economiques.
  6. Babcock, Bruce A. & Shogren, Jason F., 1995. "Cost of Agricultural Production Risk (The)," Staff General Research Papers 5014, Iowa State University, Department of Economics.
  7. Yang-Ming Chang & Issac Ehrlich, 1985. "Insurance, Protection from Risk, and Risk-bearing," Canadian Journal of Economics, Canadian Economics Association, vol. 18(3), pages 574-86, August.
  8. D. J. Pannell, 1990. "Responses To Risk In Weed Control Decisions Under Expected Profit Maximisation," Journal of Agricultural Economics, Wiley Blackwell, vol. 41(3), pages 391-401.
  9. Ehrlich, Isaac & Becker, Gary S, 1972. "Market Insurance, Self-Insurance, and Self-Protection," Journal of Political Economy, University of Chicago Press, vol. 80(4), pages 623-48, July-Aug..
  10. Richardson, James W. & Smith, Edward G. & Knutson, Ronald D. & Outlaw, Joe L., 1991. "Farm Level Impacts Of Reduced Chemical Use On Southern Agriculture," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 23(01), July.
  11. J. Pannell, David, 1991. "Pests and pesticides, risk and risk aversion," Agricultural Economics, Blackwell, vol. 5(4), pages 361-383, August.
  12. David W. Archer & Jason F. Shogren, 1994. "Nonpoint Pollution, Weeds And Risk," Journal of Agricultural Economics, Wiley Blackwell, vol. 45(1), pages 38-51.
  13. Taylor, C. Robert & Penson, John B., Jr. & Smith, Edward G. & Knutson, Ronald D., 1991. "Economic Impacts Of Chemical Use Reduction On The South," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 23(01), July.
  14. Bouzaher, Aziz & Archer, David & Cabe, Richard & Carriquiry, Alicia L. & Shogren, Jason F., 1992. "Effects of Environmental Policy on Trade-Offs in Agri-Chemical Management," Staff General Research Papers 565, Iowa State University, Department of Economics.
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