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Understanding the Economic Factors Influencing Farm Policy Preferences

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  • Keith H. Coble
  • Thomas O. Knight
  • George F. Patrick
  • Alan E. Baquet

Abstract

A survey conducted in Mississippi, Texas, Indiana, and Nebraska elicited producers' preferences for various farm policy changes. This permitted examination of the diversity of preferences that single-state studies have not allowed. Five policy choices, including deficiency payments, loan programs, crop insurance, export programs, and disaster payments were examined. Logit model results predicting producer preferences for each of the five dichotomous policy choices are reported. Explanatory variables based on expected utility theory such as risk aversion, price and yield variability, and price-yield correlation are significant in various models. Copyright 2002, Oxford University Press.

Suggested Citation

  • Keith H. Coble & Thomas O. Knight & George F. Patrick & Alan E. Baquet, 2002. "Understanding the Economic Factors Influencing Farm Policy Preferences," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 24(2), pages 309-321.
    • Handle: RePEc:oup:revage:v:24:y:2002:i:2:p:309-321
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    File URL: http://hdl.handle.net/10.1111/1467-9353.00021
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    Cited by:

    1. Allan W. Gray & Michael D. Boehlje & Brent A. Gloy & Stephen P. Slinsky, 2004. "How U.S. Farm Programs and Crop Revenue Insurance Affect Returns to Farm Land," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 26(2), pages 238-253.
    2. Heo, Seong-Yoon & Kim, Sanghyo & Zulauf, Carl & Lee, Kye-Im, "undated". "Satisfaction with Food Policies for Consumer: A Case Study of South Korea," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 236145, Agricultural and Applied Economics Association.
    3. Jason Loughrey & Fiona Thorne & Thia Hennessy, 2016. "A Microsimulation Model for Risk in Irish Tillage Farming," International Journal of Microsimulation, International Microsimulation Association, vol. 9(2), pages 41-76.
    4. Barham, E. Hart Bise & Robinson, John R.C. & Richardson, James W. & Rister, M. Edward, 2011. "Mitigating Cotton Revenue Risk Through Irrigation, Insurance, and Hedging," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 43(4), pages 529-540, November.
    5. Peterson, Hikaru Hanawa & Tomek, William G., 2001. "Income-Enhancing And Risk-Reducing Properties Of Marketing Practices," 2001 Annual meeting, August 5-8, Chicago, IL 20613, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    6. Gray, Allan W. & Boehlje, Michael & Gloy, Brent A. & Slinsky, Stephen P., 2002. "Government Program Payment Mechanisms, Crop Revenue Coverage Insurance, and the Return to Farm Land," 2002 Regional Committee NC-221, October 7-8, 2002, Denver, Colorado 132370, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.
    7. Peterson, Hikaru Hanawa & Tomek, William G., 2001. "Income Enhancing and Risk Management Properties of Marketing Practices," 2001 Conference, April 23-24, 2001, St. Louis, Missouri 18963, NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.

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