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Risk Analysis of Tillage Alternatives with Government Programs

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  • Jeffery R. Williams
  • Richard V. Llewelyn
  • G. Art Barnaby

Abstract

Stochastic dominance analysis of two tillage systems, conventional tillage and no-tillage, for five crop rotations, wheat-fallow, grain sorghum-fallow, continuous wheat, continuous grain sorghum, and wheat-grain sorghum-fallow, shows that risk-averse managers prefer a conventional tillage wheat-sorghum-fallow system. Small changes in production costs or yields lead to indifference between this system and the no-tillage wheat-sorghum-fallow and no-till and conventional wheat-fallow systems. Participation in the basic government commodity program generally increases average net returns and lowers variation of returns. Government commodity program payments calculated under a variety of scenarios do not generally encourage the use of no-till practices for grain sorghum and wheat in the central Great Plains.

Suggested Citation

  • Jeffery R. Williams & Richard V. Llewelyn & G. Art Barnaby, 1990. "Risk Analysis of Tillage Alternatives with Government Programs," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 72(1), pages 172-181.
  • Handle: RePEc:oup:ajagec:v:72:y:1990:i:1:p:172-181.
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    File URL: http://hdl.handle.net/10.2307/1243157
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    Cited by:

    1. Hodde, Whitney & Sesmero, Juan & Gramig, Benjamin & Vyn, Tony & Doering, Otto, 2016. "Climate Change and the Economics of Conservation Tillage," 2016 Annual Meeting, July 31-August 2, 2016, Boston, Massachusetts 236090, Agricultural and Applied Economics Association.
    2. Hrubovcak, James & Vasavada, Utpal & Aldy, Joseph E., 1999. "Green Technologies for a More Sustainable Agriculture," Agricultural Information Bulletins 33721, United States Department of Agriculture, Economic Research Service.
    3. Ding, Ya, 2014. "Life satisfaction and influencing factors of the elderly population in rural China," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 170041, Agricultural and Applied Economics Association.
    4. Asci, Serhat & VanSickle, John J. & Cantliffe, Daniel J., 2013. "The Potential for Greenhouse Tomato Production Expansion in Florida," 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida 143095, Southern Agricultural Economics Association.
    5. JunJie Wu & Richard M. Adams & Catherine L. Kling & Katsuya Tanaka, 2004. "From Microlevel Decisions to Landscape Changes: An Assessment of Agricultural Conservation Policies," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(1), pages 26-41.
    6. Sankranti, Sridhar & Langemeier, Michael R., 2004. "Tillage Systems, Cropping Practices, Farm Characteristics And Efficiency," 2004 Annual Meeting, February 14-18, 2004, Tulsa, Oklahoma 34632, Southern Agricultural Economics Association.
    7. Tanaka, Katsuya & Wu, JunJie, 2004. "Evaluation Of Conservation Policies For Reducing Nitrogen Loads To The Mississippi River And Gulf Of Mexico," 2004 Annual meeting, August 1-4, Denver, CO 20135, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    8. JunJie Wu & Bruce A. Babcock, 1998. "The Choice of Tillage, Rotation, and Soil Testing Practices: Economic and Environmental Implications," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(3), pages 494-511.
    9. Asci, Serhat & VanSickle, John J. & Cantliffe, Daniel J., 2014. "Risk in Investment Decision Making and Greenhouse Tomato Production Expansion in Florida," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association (IFAMA), vol. 17(4).

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