Bayesian Estimation of Optimal Nitrogen Rates with a Non-Normally Distributed Stochastic Plateau Function

Frederic B. Ouedraogo and B Brorsen

No 162447, 2014 Annual Meeting, February 1-4, 2014, Dallas, Texas from Southern Agricultural Economics Association

Abstract: Despite abundant literature on crop yield distributions, there is no strict agreement about functional form and distributional assumptions. This paper estimated the optimal nitrogen rates in wheat production assuming a stochastic plateau yield function with nonnormal random effects. The yield plateau parameter is assumed to be beta distributed. The parameters are estimated using a Bayesian estimation methods and a noninformative prior. The maximum likelihood method was also used to compare the results of the two approaches. The results indicate a slight difference in nitrogen recommendation, which can be associated with the fact that the Bayesian methods capture parameter uncertainty while the MLE does not.

Keywords: Farm Management; Production Economics; Research Methods/Statistical Methods (search for similar items in EconPapers)
Pages: 18
Date: 2014
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:saea14:162447

DOI: 10.22004/ag.econ.162447

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