This analysis compares net returns of conventional and alternative agricultural cropping systems in northeast Kansas, with and without government commodity programs. The highest net return is consistently from the alternative system, wheat/clover-sorghum-soybeans. Sensitivity analysis reveals...

This study investigates nonparametrically the optimizing behavior of a sample of 289 Kansas farms under profit-maximizing and cost-minimizing hypotheses. The results do not support strict adherence to either optimization hypothesis. However, evidence against cost-minimizing behavior seems to be...

The marginal benefit and cost of diversification for Florida orange producers is studied using certainty equivalents. The primary contribution of this study is the application of the mean-variance model to farm management decisions. Results indicate that for moderate and high levels of risk...