Effect of Risk Preferences on Incorporation of Double-Crop Soybeans into Traditional Rotations

Jayson K. Harper, Jeffery Williams, Robert O. Burton and Kenneth W. Kelley

Review of Agricultural Economics, 1991, vol. 13, issue 2, 185-200

Abstract: Six enterprise combinations, four including a double-crop sequence of wheat followed immediately after harvest by soybeans, were evaluated for southeastern Kansas given the requirements for participation in the government commodity program. Stochastic dominance analysis was used to select the preferred combination under six different classes of risk preferences. A two-year sequence of wheat double-cropped with soybeans followed by full-season soybeans was the preferred combination for all classes of risk preferences analyzed. Sensitivity analysis indicated that if labor, machinery, or field time constraints limit the number of acres of double-cropped soybeans and/or if farm yields are sufficiently less than those included in the data set, results would either favor rotations that do not double-crop or those that double-crop less than the maximum number of acres each year.

Date: 1991
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