Economic Analysis of Irrigation in Subhumid Climate

Oscar R. Burt and M. S. Stauber

American Journal of Agricultural Economics, 1971, vol. 53, issue 1, 33-46

Abstract: An economic model is developed for analysis of investments in irrigation. The model encompasses the associated problem of temporal allocation of limited irrigation water within the growing season of a single crop. The problem is placed in the framework of stochastic dynamic programming, and it is shown how the algebraic form of the production function for the crop determines the appropriate state variables of the decision process. An application of the model is made to conditions prevalent in Central Missouri with com the irrigated crop.

Date: 1971
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:53:y:1971:i:1:p:33-46.

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