ESTIMATING THE VALUE OF SEQUENTIAL UPDATING SOLUTIONS FOR INTRAYEAR CROP MANAGEMENT

James W. Mjelde, Bruce L. Dixon and Steven T. Sonka

Western Journal of Agricultural Economics, 1989, vol. 14, issue 01, 8

Abstract: Results of comparing updating versus nonupdating modeling assumptions call into question the use of models based on nonupdating strategies as valid representations of actual farmer actions. If farmers are sequential updaters, the results indicate that models assuming no updating are inaccurate. The degree of this inaccuracy ranges between 4% and 10% of profits for the study area. Further, the results indicate that updating appears to be important for both descriptive and prescriptive studies of farmer behavior.

Keywords: Crop; Production/Industries (search for similar items in EconPapers)
Date: 1989
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Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:wjagec:32447

DOI: 10.22004/ag.econ.32447

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