Risk management strategies using potato precision farming technology

Yangxuan Liu, Michael Langemeier, Ian Small, Laura Joseph and William Fry

No 205417, 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California from Agricultural and Applied Economics Association

Abstract: Stochastic dominance, stochastic dominance with respect to a function, and stochastic efficiency with respect to a function are used to compare late blight management strategies between a calendar spray schedule and a spray schedule recommended by Potato/Tomato Late Blight Decision Support System (DSS). Results show that the DSS recommended spray schedule is a more effective management strategy for controlling late blight in terms of disease control, net income over fungicide cost, and risk-adjusted net income. The value added by DSS ranges from $30 to $544 per acre. Our research contributes to the literature by providing a method to evaluate the economic benefits of adopting DSS.

Keywords: Agribusiness; Agricultural Finance; Crop Production/Industries; Farm Management; Financial Economics; Food Security and Poverty; Production Economics; Research and Development/Tech Change/Emerging Technologies; Resource/Energy Economics and Policy; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 27
Date: 2015-07
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea15:205417

DOI: 10.22004/ag.econ.205417

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