AGRICULTURAL PRODUCTION UNDER UNCERTAINTY: A MODEL OF OPTIMAL INTRASEASONAL MANAGEMENT
Quinn Weninger () and
Jinhua Zhao ()
No 19639, 2002 Annual meeting, July 28-31, Long Beach, CA from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
This paper develops a dynamic model of crop production under uncertainty with intraseasonal input choices. Crop production involves multiple stages, including at least seeding, post emergence fertilizer/pesticide application and harvesting. If the farmer receives new information about the output and/or price during the stages, he may wish to adjust the input use at each stage in response to the future possible information. Whether future information leads to higher or lower input use at earlier stages depends on the production function, in particular whether inputs at different stages are substitutes or complements in the production function.
Keywords: Farm; Management (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea02:19639
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