Strategies for Wheat Production in the Great Plains

Oscar R. Burt and Ralph D. Johnson

American Journal of Agricultural Economics, 1967, vol. 49, issue 4, 881-899

Abstract: A sequential decision model is formulated for wheat-fallow decisions on land use. Dynamic programming is used to refine and extend earlier work which used an expected-value criterion. Asymptotic variances and covariances of net returns are derived for the Markovian models implied by various strategies, and these are used to analyze strategies based on the joint criteria of expected value and variance of net returns.

Date: 1967
References: Add references at CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://hdl.handle.net/10.2307/1236944 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:49:y:1967:i:4:p:881-899.

Access Statistics for this article

American Journal of Agricultural Economics is currently edited by Madhu Khanna, Brian E. Roe, James Vercammen and JunJie Wu

More articles in American Journal of Agricultural Economics from Agricultural and Applied Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by Oxford University Press ().