RISK MANAGEMENT POTENTIAL OF PRECISION FARMING TECHNOLOGIES

James Lowenberg-DeBoer

Journal of Agricultural and Applied Economics, 1999, vol. 31, issue 2, 11

Abstract: Initial ideas on risk management uses of precision agricultural technology focused on site-specific treatment of problem areas to reduce the probability of low yields and returns. Recent discussions deal with sensor and remote-sensing information to improve marketing and "as applied maps" as trace-back mechanisms to manage liability. A theoretical model is presented that suggests that there are plausible circumstances under which precision farming can reduce temporal yield variability. Empirical evidence from an on-farm trial of site-specific P&K management in the Eastern Cornbelt supports the hypothesis that precision farming can have risk-reducing benefits.

Keywords: Research and Development/Tech Change/Emerging Technologies; Risk and Uncertainty (search for similar items in EconPapers)
Date: 1999
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Citations: View citations in EconPapers (14)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:joaaec:15366

DOI: 10.22004/ag.econ.15366

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