Economic Evaluation of Fertilizer Reduction Incentive Programs for Rice Producers

Lawrence L. Falconer, Timothy W. Walker and James Richardson ()

Journal of the ASFMRA, 2014, vol. 2014, 15

Abstract: Producers are beginning to be provided the opportunity to participate in incentive programs to reduce application rates of fertilizer. This paper demonstrates three methods of arriving at a recommendation on program participation. Two methods employ commonly used production functions and economic optimization techniques. The economic evaluation of this decision is relatively difficult using these traditional methods. The third technique employs Monte Carlo simulation to include risk analysis in the program participation decision utilizing commonly available software. This method allows a greater level of information to be presented in a more straightforward manner to decision makers.

Keywords: Crop Production/Industries; Environmental Economics and Policy; Land Economics/Use (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:jasfmr:197112

DOI: 10.22004/ag.econ.197112

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