According to Ricardian rent theory, the value of farm assets is equal to the discounted present value of future expected net rents from farm returns, and the discounted expected value of the land if converted to nonfarm development. Some recent research has considered modifying this standard...

This study takes the standard acreage response model that stems from an expected utility framework, accounting for both price and yield variability, and nests it within a flexible semi-nonparametric (SNP) model consistent with farm-level decision models for computationally tractable results. We...

Generated crop insurance rates depend critically on the distributional assumptions of the underlying crop yield loss model. Using farm level corn yield data from 1972-2008, we revisit the problem of examining in-sample goodness-of-fit measures across a set of flexible parametric,...

This paper proposes and applies an innovative estimation approach for farm group programming models using Generalised Maximum Entropy. The proposed set-up simultaneously determines calibrating cost function parameters and input allocations to production activities. The methodology is applied to...

The inclusion of cover crops in cropping systems brings both direct and indirect costs and benefits. The literature has shown that cover crops can improve soil conservation and productivity, potentially improving cash crop yields and decreasing cash crop production costs. Farmers will adopt...

Abstract Bromus Tectorum is an invasive plant species known to reduce abundance of native perennial grasses, increase fire frequency and intensity, decrease animal performance, and alter microbial communities and ecosystem processes. Specifically, in the Intermountain West, Bromus has been...

Off-farm demand for crop residues is expected to grow as bioenergy policies become effective. Demand for residues will provide farmers with an additional source of revenue but it may also trigger losses in soil organic carbon and increases in fertilizer application. This study develops a dynamic...

In this paper, a dynamic optimization model was developed to simulate how farm-level realized price and profitability respond to yield change which was induced by climate change. Producers' acreage response was included in the dynamic model considering crop rotation effect. In the crop rotation...