USE OF STOCHASTIC SIMULATION TO VALUE IMPROVED CROP FORECAST INFORMATION

Duane L. Marquis and Daryll E. Ray

No 279419, 1981 Annual Meeting, July 26-29, Clemson, South Carolina from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Consumer and producer surplus is used with The National Agricultural Policy Simulator (POLYSIM) to estimate the value of improved crop forecast information. For the three supply-demand scenarios evaluated-excess, tight and fluctuating--the net domestic value of improved information is positive ($512 and $73 million) for the latter two situations.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Pages: 13
Date: 1981-07
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea81:279419

DOI: 10.22004/ag.econ.279419

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