The Value of Information and the Value of Theoretical Models in Crop Response Research

Richard Perrin

American Journal of Agricultural Economics, 1976, vol. 58, issue 1, 54-61

Abstract: The concepts of the value of information and the value of alternative models are developed and applied to corn response research in Brazil. Soil test information was worth as much as $30 per hectare and the response model employed was worth up to $23 per hectare, but two soil classification models had negative values.

Date: 1976
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