IMPACT OF RISK PREFERENCES ON CROP ROTATION CHOICE

Leigh Maynard, Jayson K. Harper and Lynn D. Hoffman

Agricultural and Resource Economics Review, 1997, vol. 26, issue 01, 9

Abstract: Stochastic dominance analysis of five crop rotations using twenty-one years of experimental yield data returned results consistent with Pennsylvania cropping practices. The analysis incorporated yield risk, output price risk, and rotational yield effects. A rotation of two years corn and three years alfalfa hay dominated for approximately risk neutral and risk averse preferences, as did participation in government programs under the 1990 Farm Bill. Crop rotation selection appeared to impact net revenues more than the decision to participate in government programs.

Keywords: Crop Production/Industries; Risk and Uncertainty (search for similar items in EconPapers)
Date: 1997
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:arerjl:31363

DOI: 10.22004/ag.econ.31363

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